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FINRA Fines UBS For Late, Missing Broker Reports

Law360 (October 25, 2007, 12:00 AM EDT) -- The U.S. Financial Industry Regulatory Authority announced Thursday that it has fined UBS Financial Services Inc. $370,000, saying that the company failed to make disclosures of information about its brokers on time, or in some cases at all.

FINRA said in a press release that the late disclosures had taken place between Jan. 2002 and Dec. 2004, and that the information the company had been slow to disclose included “customer complaints, regulatory actions and criminal disclosures.” The Authority maintains a storehouse of information about securities brokers...
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