WASHINGTON (MarketWatch) — The Securities and Exchange Commission on Tuesday said it’s brought its first-ever case involving misstatements and omissions by an issuer of structured notes. The SEC fined UBS $19.5 million over allegations it made false or misleading statements and omissions in offering materials provided to U.S. investors in structured notes. According to the SEC, UBS falsely stated the instrument used market prices when undisclosed hedging trades by UBS reduced the index price by about 5%. Between December 2009 and November 2010 approximately 1,900 U.S. investors bought approximately $190 million of structured notes linked to what’s called the V10 index. UBS did not admit or deny the findings.
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