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BUSINESS
April 24, 1995 | Times Staff and Wire Reports
UBS to Name 5 Managing Directors: UBS Securities, a unit of Union Bank of Switzerland, will announce today the appointments of five former Salomon Brothers Inc. investment bankers to the posts, a UBS official said. The new hires include Salomon's former investment banking chief, Richard J. Barrett, who, along with Salomon Managing Director Robert A. Nau, Gerard L. Smith and Brenda White, left the firm within the past week.
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BUSINESS
August 6, 2013 | By Ricardo Lopez, This post has been updated. See the note below for details.
UBS will pay $50 million to settle charges by the U.S. Securities and Exchange Commission that the Swiss bank misled investors, the regulatory agency announced Tuesday. UBS Securities was accused of violating securities laws while structuring and marketing a collateralized debt obligation, or CDO, during a 2008 mortgage bond transaction. Regulators said it failed to disclose that it retained $23.6 million in upfront cash in the course of acquiring collateral for the CDO.  The SEC said that instead of transferring that money to the CDO, UBS retained the full amount in addition to a disclosed fee of $10.8 million.
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BUSINESS
July 3, 2003 | From Bloomberg News
UBS Securities analyst Howard Capek, who kept a "buy" rating on shares of HealthSouth Corp. after the hospital operator was accused of accounting fraud, resigned Wednesday after the brokerage firm said he broke a rule in 1999 banning employees from discussing the stock. Capek had told an institutional investor in an e-mail that he "would not own a share" of HealthSouth after UBS started investment banking work for the company from June to September 1999, brokerage spokesman Mark Arena said.
BUSINESS
December 22, 2004 | From Bloomberg News
Investment banking giant UBS said Tuesday that the Securities and Exchange Commission might bring civil charges against it over work the firm did for HealthSouth Corp., whose founder faces trial on allegations he masterminded a $2.7-billion accounting fraud. The case is an example of regulators' efforts to hold Wall Street financiers responsible if they are shown to have abetted corporate clients' wrongdoing.
BUSINESS
August 6, 2013 | By Ricardo Lopez, This post has been updated. See the note below for details.
UBS will pay $50 million to settle charges by the U.S. Securities and Exchange Commission that the Swiss bank misled investors, the regulatory agency announced Tuesday. UBS Securities was accused of violating securities laws while structuring and marketing a collateralized debt obligation, or CDO, during a 2008 mortgage bond transaction. Regulators said it failed to disclose that it retained $23.6 million in upfront cash in the course of acquiring collateral for the CDO.  The SEC said that instead of transferring that money to the CDO, UBS retained the full amount in addition to a disclosed fee of $10.8 million.
BUSINESS
December 22, 2004 | From Bloomberg News
Investment banking giant UBS said Tuesday that the Securities and Exchange Commission might bring civil charges against it over work the firm did for HealthSouth Corp., whose founder faces trial on allegations he masterminded a $2.7-billion accounting fraud. The case is an example of regulators' efforts to hold Wall Street financiers responsible if they are shown to have abetted corporate clients' wrongdoing.
BUSINESS
January 10, 2007 | From Bloomberg News
Sales at U.S. retailers climbed 3.4% last week as shoppers redeemed gift cards after Christmas. Sales at stores open at least a year were "relatively strong" in the Northeast in the week through Saturday, the International Council of Shopping Centers and UBS Securities said. In a separate report, Johnson Redbook Research said sales grew 2.9%.
BUSINESS
May 12, 1998 | P.J. Huffstutter
Computer-game maker Interplay Entertainment Corp. plans to sell 6.25 million shares of common stock to the public, according to documents filed with the Securities and Exchange Commission. The Irvine-based company, which said in March that it would go public, did not say when the sale will occur. Interplay plans to raise about $72 million in the sale, according to earlier filings. Underwriters for the deal are Piper Jaffray Inc., Bear Stearns & Co. and UBS Securities.
BUSINESS
December 21, 2004 | James Bates
House of Blues Entertainment said it had retained investment bank UBS Securities to advise it in the potential sale of its concert unit. House of Blues Concerts Inc. was formed after the company acquired Universal Concerts from Seagram Co. in 1999, and has since had a tough time competing against bigger rivals such as Clear Channel Entertainment. This year, the unit announced a $110-million recapitalization.
BUSINESS
November 1, 2006 | From Bloomberg News
U.S. retailers' sales probably increased 3% in October as cooler-than-normal weather spurred apparel sales. The gain at stores open at least a year is smaller than a 3.9% average monthly rise this year through September, and a 4.4% increase a year earlier, the International Council of Shopping Centers and UBS Securities said in a preliminary report. Department stores were "the standout sector," while discounters suffered some weakness, they said. From Bloomberg News * Apple Computer Inc.
BUSINESS
July 3, 2003 | From Bloomberg News
UBS Securities analyst Howard Capek, who kept a "buy" rating on shares of HealthSouth Corp. after the hospital operator was accused of accounting fraud, resigned Wednesday after the brokerage firm said he broke a rule in 1999 banning employees from discussing the stock. Capek had told an institutional investor in an e-mail that he "would not own a share" of HealthSouth after UBS started investment banking work for the company from June to September 1999, brokerage spokesman Mark Arena said.
BUSINESS
April 24, 1995 | Times Staff and Wire Reports
UBS to Name 5 Managing Directors: UBS Securities, a unit of Union Bank of Switzerland, will announce today the appointments of five former Salomon Brothers Inc. investment bankers to the posts, a UBS official said. The new hires include Salomon's former investment banking chief, Richard J. Barrett, who, along with Salomon Managing Director Robert A. Nau, Gerard L. Smith and Brenda White, left the firm within the past week.
BUSINESS
November 11, 2006 | From Bloomberg News
U.S. shoppers expect to spend 9% more during the holidays, buoyed by lower gasoline prices. It is the second time in five years that Americans planned to buy more than a year earlier, according to a widely watched forecast. Shoppers intend to spend $676 per household on holiday purchases, up from $620 in 2005, the International Council of Shopping Centers and UBS Securities said in a study.
BUSINESS
April 7, 2004 | From Reuters
Sales at U.S. chain stores rebounded from the previous week, but business remained soft because of cool weather and high gasoline prices, a report said. Sales rose 0.3% last week contrasted with a 1.9% fall in the previous week, the International Council of Shopping Centers and Wall Street investment firm UBS Securities said in a joint report. Sales last week increased 7.5% compared with the same week a year ago.
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