Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Thursday, June 28, 2007

Massachusetts Charges UBS in connection with Soliciting Hedge Fund Business

Massachusetts securities regulators accused UBS of "dishonest and unethical practices," alleging that its investment banking division gave hedge-fund managers perquisites like below-market office and low-interest loans in exchange for brokerage business.  The state's complaint describes a "hedge fund hotel," where, in addition to office space, hedge funds were provided with office furniture, receptionist, internet access, free meals and baseball tickets.  See NYTimes, A State Questions UBS Ties to Hedge Funds; WSJ, Hedge Funds' Gift Grabs.

http://lawprofessors.typepad.com/securities/2007/06/massachusetts-c.html

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