{"id":50349,"date":"2015-10-21T10:13:11","date_gmt":"2015-10-21T14:13:11","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=50349"},"modified":"2015-10-21T10:13:11","modified_gmt":"2015-10-21T14:13:11","slug":"two-ubs-advisory-firms-settle-charges-arising-from-failure-to-disclose-change-in-investment-strategy","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2015\/two-ubs-advisory-firms-settle-charges-arising-from-failure-to-disclose-change-in-investment-strategy.html","title":{"rendered":"Two UBS Advisory Firms Settle Charges Arising From Failure to Disclose Change in Investment Strategy"},"content":{"rendered":"<p>(Securities &#038; Exchange Commission) The Securities and Exchange Commission today announced that two UBS advisory firms have agreed to settle charges arising from their roles in failing to disclose a change in investment strategy by UBS Willow Fund LLC, a closed-end fund they advised. UBS Willow Management LLC and UBS Fund Advisor LLC agreed to pay a total of approximately $17.5 million, more than $13 million of which will be returned to harmed investors. <\/p>\n<p>According to an SEC order instituting a settled administrative proceeding: UBS Willow Management, a joint venture between UBS Fund Advisor and an external portfolio manager, marketed the UBS Willow Fund as one that primarily invested in distressed debt, a strategy predicated on the debt increasing in value.  From 2000 through 2008, UBS Willow Management invested the fund\u2019s assets consistent with the strategy described in the offering and marketing materials. <\/p>\n<p><a href=\"http:\/\/www.sec.gov\/news\/pressrelease\/2015-241.html\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Securities &#038; Exchange Commission) The Securities and Exchange Commission today announced that two UBS advisory firms have agreed to settle charges arising from their roles in failing to disclose a change in investment strategy by UBS Willow Fund LLC, a [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-50349","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=50349"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50349\/revisions"}],"predecessor-version":[{"id":50350,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/50349\/revisions\/50350"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=50349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=50349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=50349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}