UBS Securities fined $8 million for inaccurate recording practices
UBS Securities has been fined $8 million by the SEC for inaccurately recording 'locates' information
UBS Securities has agreed to retain an independent consultant to conduct a comprehensive review of its securities lending desk's policies, procedures and practices with regard to granting 'locate' requests. It has also agreed to pay an $8 million fine in respect of charges brought by the Securities and Exchange Commission (SEC).
The charges relate to inaccurate recording practices, specifically in
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