SEC Charges UBS With Faulty Recordkeeping Related to Short Sales

Washington, D.C., Nov. 10, 2011 – The Securities and Exchange Commission today charged UBS Securities LLC for inaccurate recording practices when providing and recording “locates” to customers seeking to execute short sales. UBS settled the enforcement action by agreeing to pay an $8 million penalty and retain an independent consultant.

http://www.sec.gov/news/press/2011/2011-240.htm