UBS Lawyer Quits Amid ARS Scandal

Law360, New York (August 4, 2008, 12:00 AM EDT) -- UBS AG has accepted the resignation of General Counsel David Aufhauser amid reports that he is an unnamed defendant in a multibillion-dollar lawsuit filed by New York's attorney general over the bank's involvement in the ill-fated auction rate securities market.

Aufhauser, who served as general counsel to UBS' investment banking unit and interim co-group general counsel of UBS AG, would stay on as a consultant until Sept. 30 to ensure “continuity,” the bank's chairman and chief executive said in a joint internal memo to staff on...
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.