UBS resolves RMBS matter with US Department of Justice
Industry News 2023-08-14 12:00:00
UBS has reached an agreement with the United States Department of Justice (DOJ)
Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules
Zurich/Basel, 14 August 2023 – UBS has reached an agreement with the United States Department of Justice (DOJ) to settle a legacy matter from 2006-2007, related to the issuance, underwriting and sale of residential mortgage-backed securities (RMBS). Under the terms of the settlement, UBS will pay USD 1.435bn to resolve all civil claims by the DOJ in connection with UBS’s legacy RMBS business in the US. The settlement has been fully provisioned in prior periods.
