UBS Settles Claims Over Insurance Trust's Investments

Law360, New York (June 9, 2011, 7:38 PM EDT) -- Indiana securities regulators signed off Thursday on a deal that lets UBS Financial Services Inc. pay $677,000 to settle allegations that the bank sold unsuitable investments to a trust that pays for some teachers and school employees' insurance claims.

Indiana Securities Division Commissioner Chris Naylor approved the agreement, reached in late May between UBS and the Indiana State Teachers Association, that settles a dispute over the way that the ISTA's insurance trust invested $16.2 million in 13 private equity funds from 2004 to 2009.

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