UBS Settles New York AG RMBS Claims for $230M


On March 20, 2018, UBS entered into a $230 million settlement with the New York Attorney General to resolve allegations against UBS under New York’s Martin Act and Executive Law arising from the creation, packaging, structuring, underwriting, issuance, and sale of fifteen residential mortgage-backed securities sponsored by UBS in 2006 and 2007. The settlement agreement sets aside $189 million for New York homeowners and $41 million for the state, and an agreement by UBS to acknowledge certain facts relating to its alleged misconduct between 2006 and 2007. Settlement Agreement