UBS has reached an agreement with the United States Department of Justice (DOJ) to settle a legacy matter from 2006-2007, related to the issuance, underwriting and sale of residential mortgage-backed securities (RMBS). UBS will pay $1.435 billion
![UBS has reached an agreement with the United States Department of Justice (DOJ) to settle a legacy matter from 2006-2007, related to the issuance, underwriting and sale of residential mortgage-backed securities (RMBS). UBS will pay $1.435 billion](/content/images/size/w1200/2023/09/1---Copy--23-.png)
![r/Superstonk - UBS has reached an agreement with the United States Department of Justice (DOJ) to settle a legacy matter from 2006-2007, related to the issuance, underwriting and sale of residential mortgage-backed securities (RMBS). UBS will pay $1.435 billion to resolve all civil claims by the …](https://preview.redd.it/u2lnrepl24ib1.png?width=772&format=png&auto=webp&s=447672bc7e8374e08898bc28665e478e35c7b092)
UBS has reached an agreement with the United States Department of Justice (DOJ) to settle a legacy matter from 2006-2007, related to the issuance, underwriting and sale of residential mortgage-backed securities (RMBS). Under the terms of the settlement, UBS will pay USD 1.435bn to resolve all civil claims by the DOJ in connection with UBS’s legacy RMBS business in the US.
“This settlement represents accountability from those who thought they were above the law,” said U.S. Attorney Ryan Buchanan for the Northern District of Georgia. “UBS’ conduct at issue in this case played a significant role in causing a financial crisis that harmed millions of Americans. We will continue to seek accountability when financial institutions – large or small – misrepresent vital information to investors and undermine trust in our public markets.”
![r/Superstonk - UBS has reached an agreement with the United States Department of Justice (DOJ) to settle a legacy matter from 2006-2007, related to the issuance, underwriting and sale of residential mortgage-backed securities (RMBS). UBS will pay $1.435 billion to resolve all civil claims by the …](https://preview.redd.it/qf7sufjt24ib1.png?width=610&format=png&auto=webp&s=c3cc6cf0fa6886e5a546e3e65a6d8f112f5c5324)