UBS settles with regulator over U.S. mortgage bonds, WSJ reports

UBS settled with a regulator over allegedly misrepresenting U.S. mortgage bonds packaged for sale during the housing bubble, a remnant of its once-aggressive U.S. investment banking business that it said would knock its results, reports the Wall Street Journal. UBS said its second-quarter results, set to be released in full on July 30, now include pre-tax charges for litigation matters totaling about $919M.

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