SEC Fines UBS $8 Million for Bad Recordkeeping

UBS Securities has once again been penalized for its improper handeling of short sales. This fine from the SEC is for $8 million and a $12 million fine was imposed by FINRA less than two weeks ago.

FINRA Fines UBS $300,000

UBS Financial Services, Inc. was fined $300,000 by FINRA for failing to supervise and prevent excessive crosstrading of municipal securities between the customer accounts of one broker for a two-year period.