UBS Pays Dearly in Antitrust Muni Settlement |
| May 04, 2011 | May 2011 Bond Updates |
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The Department of Justice ("DOJ") believed that from 2001 through 2006, certain former UBS AG employees at its municipal reinvestment and derivatives desk and related desks, entered into unlawful agreements to manipulate the bidding process and rig bids on municipal investment contracts. These contracts were used to invest the proceeds of, or manage the risks associated with, bond issuances by municipalities and other non-profit entities. |
| View more at: http://blogs.forbes.com/billsinger/2011/05/04/ubs-antitrust-municipal/ |
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