The Financial Industry Regulatory Authority has censured and fined UBS $350,000 for failing to report certain trades in TRACE-eligible securities.
Between July 2018 and September 2021, Finra said in a letter of acceptance, waiver and consent, UBS failed to report in a timely manner approximately 3,850 transactions. These including approximately 340 large-block transactions in corporate debt securities and 424 large-block transactions in agency debt securities. These untimely reports, Finra said, constituted an average of 4.72% of the firm’s large-block corporate debt transactions and an average of 9.3% of its large-block agency debt transactions.
During the same period, the firm also failed to report in a timely manner approximately 1,680 transactions (including the 424 large block transactions that were reported late) in agency debt securities and approximately 1,830 transactions in securitized products, Finra said.
As part of its agreement with Finra, UBS agreed to revise its supervisory system.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
Streamline your outreach with Aidentified's AI-driven solutions
This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
