On the technical side the price of Crude oil on the daily chart is “walking the band” ( touching the Bollinger bands in consecutive sessions) indicating great push by the bears in high volumes. It is trading at a 15 month low with no signals of correcting to the upside just yet while the 50…
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UBS Chairman Colm Kelleher said: This acquisition is attractive for UBS shareholders but, let us be clear, as far as Credit Suisse is concerned, this is an emergency rescue. We have structured a transaction which will preserve the value left in the business while limiting our downside exposure. Acquiring Credit Suisse’s capabilities in wealth, asset…
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If the firm fails to close out a failure to deliver, it is prohibited from accepting additional short sale orders in the security without first borrowing or arranging to borrow the security. According to FINRA, between 2009 and 2018, UBS failed to close in time around 5,300 for failure to deliver positions. Additionally, more than…
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Group Chief Executive Officer Ralph Hamers: I am delighted to welcome Naureen Hassan to UBS as President UBS Americas and to congratulate Iqbal on his expanded role as sole President Global Wealth Management. I also want to personally thank Tom for his leadership and significant contributions to UBS over the past four decades. He’s been…
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Osman Nawaz, Chief of the Division of Enforcement’s Complex Financial Instruments Unit Advisory firms are obligated to implement appropriate policies and procedures to ensure all parties involved in the sale of complex financial products and strategies have a clear understanding of the risks those products present. As fiduciaries, advisers also must make suitable recommendations to…
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Ralph Hamers, Group Chief Executive Officer of UBS, said: Adding Wealthfront’s capabilities and client base to our global investment ecosystem will significantly boost our ability to grow our business in the US. Wealthfront complements our core business in the US providing wealth management to high net worth and high net worth investors through trusted relationships…
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Meanwhile, Barbara Lambert has been a member of the Board of Directors of Banque Pictet & Cie SA in Geneva since 2018. Prior to that, she was a member of the Executive Board as Group Chief Risk Officer from 2014 to 2018. Lambert was also a partner at Ernst & Young (EY), Switzerland, where she…
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Group Chief Executive Officer Ralph Hamers, commented: I’m also excited to welcome Sarah Youngwood to the UBS team in her role as Group CFO and Group Executive Board member. With her strong track record, in-depth finance expertise, and experience across various banking areas, Sarah is ideally suited to lead our finance function into the future.…
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According to the regulator, before June 2019, UBS implemented multiple software systems to comply with its recordkeeping obligations. These systems operate its trader turret communication devices and recorded and stored voice recordings of calls occurring on these trader turrets. The recording systems had a know flaw causing them to fail to synchronize certain call data.…
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Market participants can agree, execute and settle repo transactions on the DLR platform. A digital repo approach allows collateral to be detached from the trade agreement and the cash remains off-chain. DLR also enables the immobilization of the underlying securities in the repo transactions, while transferring ownership via smart contracts executed on the platform. The…
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