LexRegPulse Daily - Aug 4, 2026
Morgan here. This is LexRegPulse Daily for Tuesday, August 4, 2026.
Four regulators hit UBS Financial Services at once on August 3, and the story isn't the total — it's the word "recidivist." FinCEN assessed $125 million, the largest Bank Secrecy Act penalty ever imposed on a broker-dealer. The SEC, FINRA, and CFTC added $20 million, $20 million, and $8 million. The failure: foreign-currency wire monitoring gaps FINRA had already fined UBS for in 2018. The firm never closed them. More than 60,000 wires, roughly $10 billion, went unmonitored — including transfers to Russia and other high-risk…
The skinny
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