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Company: UBS AG
Current Parent Company:
UBS
Parent at the Time of the Penalty Announcement:
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Penalty: $1,435,000,000
Year: 2023
Date: August 14, 2023
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal:
Toxic Securities
Violation Description: UBS AG and several of its U.S.-based affiliates agreed to pay $1.435 billion in penalties to settle a civil action filed in November 2018 alleging misconduct related to UBS' underwriting and issuance of residential mortgage-backed securities (RMBS) issued in 2006 and 2007.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Civil Division
Civil or Criminal Case: civil
HQ Country of Current Parent: Switzerland
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data:
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Archived Source:
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the
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