
The Financial Industry Regulatory Authority fined UBS Securities LLC $12 million for violating Regulation SHO and failing to properly supervise short sales of securities. As a result of these violations, millions of short sale orders were mismarked and/or placed to the market without reasonable grounds to believe that the securities could be borrowed and delivered. For more info visit https://www.finra.org/media-center/news-releases/2011/finra-fines-ubs-securities-12-million-regulation-sho-violations-and