Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

Compliance, Compliance News, EU/Europe, Regulatory, US

NEWS: UBS gets fresh US pensions license fixing paperwork error, filings show

By Stefania Spezzati

THE U.S. Department of Labor granted UBS a waiver the Swiss bank needs to continue managing U.S. retirement plans after a paperwork error had put the $11 billion of assets the lender oversees at risk, documents show.

After a five-month review, the U.S. agency said in a notice published on Wednesday that UBS can now rely on its status of qualified professional asset manager in the U.S. until June 2029.

AML Intelligence
Subscribe now to have unlimited access

With our subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!