ASIC v. UBS Securities (front running, 2017)
Status unknown
Machine-extracted, pending human review. The structured fields on this page were parsed automatically from the regulator's own release, linked below. Read the primary document before relying on any figure here, and tell us if something is wrong.
In 2017, the Australian Securities and Investments Commission brought an action against UBS Securities, over crossing-system and disclosure failures. The release does not state a monetary figure that we were able to extract.
The record
| Agency | ASIC |
|---|---|
| Release number | 17-185MR |
| Date filed | 2017-06-15 |
| Status | unknown |
| Criminal parallel | No |
| Defendants | UBS Securities |
| Techniques |
What was ordered
- Civil penalty
- —
- Disgorgement
- —
- Prejudgment interest
- —
- Total relief
- —
- Alleged gain
- —
What is alleged to have happened
the Australian Securities and Investments Commission announced this matter on June 15, 2017 as release 17-185MR. The respondents named are UBS Securities (0 individuals, 1 entity).
This matter concerns UBS's crossing system (UBS PIN) failing to deal fairly and in due turn with orders, incorrect disclosures to wholesale clients about execution venue and trading as principal, and incorrect regulatory data provided to market operators. The release's one mention of front running describes the risk that the trading-as-principal disclosure rule guards against, not a finding that UBS front ran anyone; this library does not tag the matter with any technique.
For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.
Timeline
- 2017-06-15 ASIC media release
Primary documents
Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.