Friday, 21st November 2008

 
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8 October 2008 - Press Briefing

Former UBS counsel settles auction-rate charges

David Aufhauser, a former US Treasury official and former general counsel for UBS’ investment banking unit, has settled with New York Attorney General Andrew Cuomo on charges of insider trading in the auction-rate securities market, according to a report in The Wall Street Journal.

As part of the settlement, Aufhauser had agreed to forfeit his entire 2008 incentive payout - $6m (€4.4m) - to New York state.

He has also been fined $500,000 and given a two-year ban on practicing law, working in the securities industry, or serving as an officer or director of a public company, the WSJ report said.

Tags: David Aufhauser , UBS

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Mayfair goes Modern

Sebastian + Barquet, a three-year old design gallery based in New York and Chelsea, is opening a new gallery showing museum quality pieces in Mayfair next month, the first in London to focus on international modernism from the 1940s to the 1960s. Its opening exhibition is dedicated to American modernist design and is curated by celebrated architect Eric Parry.

Rich Monitor

Private jet fractional ownership attracts soaring demand

A newly launched private jet company, Jet Republic, which specialises in fractional ownership and member's cards, said it is benefitting from the economic turndown as businesses and governments sell their private jets and switch to temporary ownership.

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