UBS May Settle With Texas Regulators Over ARS

Law360, New York (August 5, 2008, 12:00 AM EDT) -- UBS AG is reportedly engaged in settlement talks with Texas securities regulators who want to suspend the bank's license in the state as a result of complaints from investors who purchased auction rate securities from the financial services firm.

According to a motion for continuance filed Monday, the Texas State Securities Board has asked an administrative judge to postpone a Sept. 22 hearing until Oct. 21 because it is discussing a possible settlement with UBS, Dow Jones reported Monday.

“We are very pleased that the Texas...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.