VXX Investor Through UBS? KlaymanToskes Investigates Firm's VXX Sales Practices in Light of Recent SEC Settled Action

VXX Investor Through UBS? KlaymanToskes Investigates Firm's VXX Sales Practices in Light of Recent SEC Settled Action

Invest with UBS and VXX ETN? The Securities and Exchange Commission recently settled charges against UBS Financial Services Inc. for its failure to supervise relating to sales of iPath S&P 500 VIX Short-Term Futures ETN (“VXX”) in UBS’s Portfolio Management Program (“PMP”). VXX is a volatility linked exchange-traded product. From January 2016 to January 2018, certain financial advisors in UBS’s discretionary Portfolio Management Program purchased and held VXX for their advisory clients for durations that were inconsistent with the purpose of the product, as described in its offering documents, and as described to UBS in a meeting with VXX representatives.…