- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-07-24T20:36:00
The Federal Reserve Board fined UBS $268.5 million regarding recent acquisition Credit Suisse’s credit risk management failures at collapsed U.S. hedge fund Archegos Capital Management.
The penalty, announced Monday, was accompanied by a record fine of 87 million pounds (U.S. $112 million) levied by the Bank of England’s Prudential Regulation Authority (PRA). The U.S. and U.K. agencies coordinated with the Swiss Financial Market Supervisory Authority (FINMA), which ordered UBS to implement corrective measures.
Credit Suisse took a $5.5 billion loss when Archegos collapsed in 2021. The bank that year commissioned an independent report that detailed its risk management failings regarding its relationship with the hedge fund.
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2024-07-11T19:04:00Z By Aaron Nicodemus
UBS Financial Services, a subsidiary of the Swiss banking giant UBS, has been fined $850,000 for failing to properly monitor transactions between its broker-dealers and third parties.
2023-12-14T14:19:00Z By Kyle Brasseur
Three entities of Swiss bank Credit Suisse agreed to pay more than $10 million combined as part of a settlement with the Securities and Exchange Commission for allegedly providing prohibited underwriting and advising services to mutual funds.
2023-11-17T18:52:00Z By Aaron Nicodemus
France’s top court struck down a fine of €1.8 billion (U.S. $2 billion) imposed on UBS in 2021 by a lower court, despite upholding a guilty verdict related to money laundering and tax fraud in the Swiss bank’s cross-border activities.
2025-05-22T14:37:00Z By Aaron Nicodemus
The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
2025-05-20T12:30:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
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