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NH Regulator Looks To Pull UBS' License Over Lehman

Law360 (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...
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