Vermont To Receive $63k From UBS Settlement

Sep 20, 2013

The state of Vermont is going to receive $63,000 from UBS Financial Services as part of a nationwide $4.6 million settlement.

Vermont Financial Regulation Commissioner Susan Donegan says the payment comes after a multi-state investigation determined some UBS employees had been accepting orders even though they were not registered to sell securities.

Donegan said she is pleased UBS has acknowledged the need to modify its procedures and take corrective actions.

All 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands will receive a portion of the settlement.