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.

 

 

Most Read

A Seat at the Table
Invesco Funds board finalizes succession plans

The Invesco Funds board will name Christopher Wilson vice chairman at its June meeting, making him the heir apparent to long-serving independent Chair Bruce Crockett. Crockett ...

Top of the Agenda - Compensation
Fund board comp moves up, as industry keeps changing

Analyzing mutual fund director compensation data is getting increasingly difficult as consolidation reshapes the mid-sized to large end of the market and a reduction in stand-alone ...

Top of the Agenda - Industry Groups
IDC's Amy Lancellotta to retire at year-end

Amy Lancellotta will retire from the Independent Directors Council at the end of this year after 13 years as managing director and a total of 30 ...