Consent Order Imposing Civil Money Penalty on UBS Financial Services Inc.

UNITED STATES OF AMERICA
FINANCIAL CRIMES ENFORCEMENT NETWORK
DEPARTMENT OF THE TREASURY
IN THE MATTER OF: )
) Number 2026-02
UBS Financial Services Inc. )
CONSENT ORDER IMPOSING CIVIL MONEY PENALTY
The Financial Crimes Enforcement Network (FinCEN) has conducted a civil enforcement investigation and determined that grounds exist to impose a Civil Money Penalty against UBS Financial Services Inc. (UBSFS or the Firm) for violations of the Bank Secrecy Act (BSA) and its implementing regulations.1 UBSFS admits to the Statement of Facts and Violations set forth below, consents to the issuance of this Consent Order, agrees to pay the civil money penalty imposed in this Consent Order, and agrees to comply with the provisions of this Consent Order, including, but not limited to, the Undertakings.
I. JURISDICTION
Overall authority for enforcement and compliance with the BSA lies with the Director of FinCEN, and the Director may impose civil penalties for violations of the BSA and its implementing regulations.2 At all times relevant to this Consent Order, UBSFS was a “broker or dealer in securities” (broker-dealer) and “futures commission merchant” (FCM), as defined by the BSA and its 1 The BSA is codified at 12 U.S.C. §§ 1829b, 1951-1960, 31 U.S.C. §§ 5311-5314, 5316-5336 and includes other authorities reflected in notes thereto. Regulations implementing the BSA appear at 31 C.F.R. Chapter X. 2 31 U.S.C. § 5321(a); 31 C.F.R. § 1010.810(a), (d); Treasury Order 180-01 (July 1, 2014, reaff’d Jan. 14, 2020).