NH Regulator Looks To Pull UBS' License Over Lehman

Law360, New York (June 4, 2009, 12:00 AM EDT) -- The New Hampshire Bureau of Securities Regulation has launched a cease-and-desist order against UBS Financial Services Inc., asking UBS to prove why its New Hampshire broker-dealer license shouldn’t be revoked after it allegedly misrepresented the safety of structured products underwritten by now-defunct Lehman Brothers Holdings Inc.

According to the NHBSR, UBS put more than $2.5 million of New Hampshire investors’ money on the line after convincing them to buy into structured products, the principal of which it promised would be protected by then-venerable Lehman, even after...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.