Posted On: 01/29/2016 7:52:41 AM
Post# of 11038
Why doesn't the judge see this? FINRA Fines UBS Securities $12 Million for Regulation SHO Violations and Supervisory Failures
For Release:
Friday, October 21, 2011
Contact(s):
Nancy Condon (202) 728-8379
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined UBS Securities LLC $12 million for violating Regulation SHO (Reg SHO) and failing to properly supervise short sales of securities. As a result of these violations, millions of short sale orders were mismarked and/or placed to the market without reasonable grounds to believe that the securities could be borrowed and delivered.
For Release:
Friday, October 21, 2011
Contact(s):
Nancy Condon (202) 728-8379
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined UBS Securities LLC $12 million for violating Regulation SHO (Reg SHO) and failing to properly supervise short sales of securities. As a result of these violations, millions of short sale orders were mismarked and/or placed to the market without reasonable grounds to believe that the securities could be borrowed and delivered.
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