New York Post (Free subscription) | 07/25/2008
... that the securities were at risk of becoming illiquid, or not easily traded. UBS spokeswoman Karina Byrne said UBS "categorically rejects" any claim that the firm attempted to free itself of the securities by dumping them into clients' laps. An internal investigation "found cases of poor judgment by certain individuals," but nothing illegal, she said. "It is frustrating that the New...
Law Blog - WSJ.com (Free subscription) | 07/24/2008
... of those securities. A statement from UBS was not immediately available. But earlier this week, Karina Byrne, a spokeswoman for UBS told the Journal: “A filing of a complaint at this point would be disappointing, given that we are working with regulators, peers, and industry groups to develop solutions addressing the liquidity issues in the ARS market.”
Law Blog - WSJ.com (Free subscription) | 07/23/2008
... and industry groups to develop solutions addressing the liquidity issues in the ARS market,” said Karina Byrne, a spokeswoman for UBS. The $330 billion market for ARS allowed municipalities, charitable institutions, student-loan companies and mutual-fund companies to borrow money for long periods of time at short-term interest rates through auctions that reset the interest rate every...
The Age (Free subscription) | 07/17/2008
... lead to a tax-information exchange agreement this year, she said.Tax disputeUBS spokeswoman Karina Byrne declined to comment on specific allegations in the report.``UBS intends to address and correct in a responsible manner any misconduct identified in the course of the ongoing investigation by US authorities,'' she said.Lowy, worth more than $6 billion according to BRW magazine's...
International Herald Tribune (Free subscription) | 06/29/2008
E-mails attached to the Massachusetts complaint against UBS accusing it of defrauding investors support accusations in stunning black and white.
Forbes (Free subscription) | 06/27/2008
... other brokerage firms. "We will defend the specific allegations of the complaint," spokeswoman Karina Byrne said in the statement. "Contrary to the allegations, UBS is committed to serving the best interests of our clients."The complaint alleges that UBS financial advisers sold auction rate securities to clients without making them aware of the risks. The sales were made even as the...
International Herald Tribune (Free subscription) | 06/26/2008
UBS did not immediately comment on the charges being filed. But a spokeswoman, Karina Byrne, said earlier: "UBS has been providing information to the Massachusetts Securities Division and we are committed to helping our clients who have been adversely affected by the unprecedented marketwide loss of liquidity in auction rate securities."
Seattle Times (Free subscription) | 06/26/2008
... who were supposed to have their best interests at heart," the complaint said.UBS spokeswoman Karina Byrne said the company was disappointed state regulators filed the complaint while the company was working to solve the problems caused by the auction rate market failure.In a statement, she said the company supported the market longer than any other firm, and have offered loans at...
Boston Globe (Free subscription) | 06/26/2008
... who were supposed to have their best interests at heart," the complaint said.UBS spokeswoman Karina Byrne said the company was disappointed state regulators filed the complaint while the company was working to solve the problems caused by the auction rate market failure.In a statement, she said the company supported the market longer than any other firm, and have offered loans at...
CNNMoney.com (Free subscription) | 06/19/2008
... Department is investigating whether the bank was helping clients evade taxes from 2000 to 2007.Karina Byrne, a spokeswoman for UBS in New York, said the bank would not comment on Birkenfeld's case Thursday. The bank did, however, issue a statement saying that UBS was "working diligently with both Swiss and U.S. government authorities" in the wider investigation.In Birkenfeld's case,...
