UBS Halts Inverse And Leveraged ETF Trading (FAZ, FAS)
Here we go again, UBS joins other firms and is halting some select ETF’s? ”Bearish bets made impossible, compliments of UBS. Either that, or UBS’ recently upgraded (with i7 chips of course) computers just can’t handle the basis calculations. Either way, is something very fried with ETFs going on behind the scenes?” Reports ZeroHedge.
IMPORTANT NOTICE: Inverse, Leveraged and Inverse-Leveraged Exchange Traded Funds are no longer available for new or additional purchases at UBS
Effective July 27, 2009, UBS is suspending the offering of Inverse, Leveraged and Inverse-Leveraged Exchange Traded Funds (ETFs). You will no longer be able to make new or additional purchases and will only be able to liquidate current positions through UBS at this time. Any attempt to execute a trade of such ETFs will be rejected.
Please contact your Financial Advisor with questions.
See our stories on other firms:  Two More Firms Ban Sales of Leveraged ETFs  and Edward Jones Drops Sales Of Leveraged ETFs
Full Story: HERE
GET A FREE TRENDÂ ANALYSISÂ Â FOR ANYÂ ETF HERE!
This is another smoke screen by UBS that has been admitted to criminal conduct in the USA. The press release by UBS makes no mention whatsoever of this new policy outside the USA. Why? The foreign markets in which UBS operates globally are much less regulated if at all. This is very lucrative product for private bankers and UBS to sell. This ONLY refers to US financial advisors at UBS. Pathetic!