In the Margins

UBS settles SEC claims it overcharged fund shareholders

October 31, 2017

By Reuter

UBS will pay a $3.5 million civil fine to settle Securities and Exchange Commission claims that it overcharged customers on mutual funds. The SEC said UBS, between January 2010 and June 2015, failed to provide sales charge waivers or offer lower-cost shares that retirement plan and charitable organization customers were entitled to, and did not disclose it would make more money by selling costlier shares. Read the original story from Reuters.