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UBS Can't Halt Calif. Arbitration Over $175M In ARS

By Max Stendahl (August 1, 2012, 2:02 PM EDT) -- UBS Financial Services Inc. must face a Financial Industry Regulatory Authority Inc. arbitration brought by Pasadena, Calif., over alleged losses on $175 million in auction-rate securities, a California federal judge ruled Tuesday, rejecting the bank's claim that the city was not its customer....

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