UBS unit to pay $5.3 mln to settle SEC charge

A UBS AG hedge fund agreed to pay a fine of $5.3 million to settle a charge that one of its units bought stocks in public offerings that an affiliated unit was shorting, the U.S. securities regulator told Reuters on Monday.

The U.S. Securities and Exchange Commission (SEC) said UBS AG's $6 billion hedge fund, UBS O'Connor LLC, violated a rule governing short sales 16 times between January 2009 and March 2011….

Read more at http://www.reuters.com/article/2013/06/04/ubs-sec-idUSL3N0EG0XL20130604