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...
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