It was announced that the Securities and Exchange Commission (SEC) issued a Wells notice to UBS regarding secondary market trading of closed-end funds sold in Puerto Rico in 2008 and 2009.  USB sold $2.9 billion in bonds in 2008. UBS was a former financial adviser to Puerto Rico's Employees Retirement System that provides pensions for […]

NEW YORK - In an article from FoxBusiness.com, Brett Philbin writes that  E*Trade Financial Corp. (ETFC)  received a Wells notice from the Financial Industry Regulatory Authority related to the purchase of auction-rate securities by customers of one of its subsidiaries, according to a regulatory filing.  A Wells notice indicates that regulators are recommending enforcement action and […]