AG: UBS pays more than $70,000 to DOJ

By Tom Lehman 10:52pm, October 28, 2013
The Attorney General's office says UBS Financial Services has paid more than $70,000 to the justice department as part of a settlement following a multi-state investigation.

Attorney General Beau Biden says UBS acts as a broker-dealer in Delaware, but some of its employees who weren't registered with the state carried out transactions with local investors.

The flaw, Biden says, went unnoticed for six years and similar practices were used in other states. UBS will pay $4.58 million in civil penalties across the country.

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