NEW YORK: US securities regulators said on Thursday a unit of UBS AG agreed to pay more than $14.4 million to settle charges over disclosure violations and other regulatory failures related to the operation of the bank's private US trading platform, or "dark pool."
UBS Securities LLC, which did not admit or deny any wrongdoing as part of the settlement, failed to properly disclose the existence of an order type that it pitched almost exclusively to market makers and high-frequency firms, the US Securities and Exchange Commission said in a release.
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