UBS Pays $70K to Settle Del. Securities Violation - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

UBS Pays $70K to Settle Del. Securities Violation

Posted:

WILMINGTON, Del. (AP)- Delaware officials say UBS Financial Services has paid more than $70,000 to the state's justice department after a multi-state investigation found state securities law violations.

Attorney General Beau Biden announced this week that the settlement resolves an investigation that found that UBS failed to ensure that agents were properly registered in Delaware and other states. UBS will pay $4.58 million in civil penalties across the country.

UBS functions as a broker-dealer in Delaware, but the investigation found that a flaw in its order entry system allowed agents not registered in Delaware to accept orders from investors in the state.

Biden says the flaw wasn't noticed for six years and similar practices were used in other states.

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • String of Motorcycle Thefts on Delmarva Alarm Bike Enthusiasts

    String of Motorcycle Thefts on Delmarva Alarm Bike Enthusiasts

    Thursday, April 24 2014 5:50 PM EDT2014-04-24 21:50:35 GMT
    Steve Ward's flyer of his stolen motorcycle. Steve Ward's flyer of his stolen motorcycle.
    This week there may be extra motorcyclists on some Delmarva roads. Many of them are riding through towns trying to get to Ocean City's spring rally happening all through out the week. But now some of those riders tell WBOC they are concerned because there have been a series of motorcycle thefts in the area recently.
    More
    This week there may be extra motorcyclists on some Delmarva roads. Many of them are riding through towns trying to get to Ocean City's spring rally happening all through out the week. But now some of those riders tell WBOC they are concerned because there have been a series of motorcycle thefts in the area recently.
    More
  • Pro Games, New Softball Tournament Coming to Wicomico County

    Pro Games, New Softball Tournament Coming to Wicomico County

    Thursday, April 24 2014 5:43 PM EDT2014-04-24 21:43:29 GMT
    Two professional women's fastpitch softball games will be played this spring in Wicomico County coupled with a new youth tournament the same weekend.  The USSSA Pride and PA Rebellion will play two games, on May 30th and 31st at Perdue Stadium and that weekend, roughly two dozens youth teams will be town for another tournament.More
    Two professional women's fastpitch softball games will be played this spring in Wicomico County coupled with a new youth tournament the same weekend.  The USSSA Pride and PA Rebellion will play two games, on May 30th and 31st at Perdue Stadium and that weekend, roughly two dozens youth teams will be town for another tournament.More
  • Del. AG Calls for New Crime Lab

    Del. AG Calls for New Crime Lab

    Thursday, April 24 2014 3:35 PM EDT2014-04-24 19:35:33 GMT
    The recent problems revealed with drug evidence in the State Medical Examiner’s Office show that Delaware needs to build its own, state-of-the-art crime laboratory, Attorney General Beau Biden said Thursday.More
    The recent problems revealed with drug evidence in the State Medical Examiner’s Office show that Delaware needs to build its own, state-of-the-art crime laboratory, Attorney General Beau Biden said Thursday.More
Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service