UBS Financial Services, Inc. agreed to pay a fine of US $500,000 to the Financial Industry Regulatory Authority related to its alleged failure from about May 2010 to May 2013 to update its individual registrants’ personal information to disclose unsatisfied tax liens and judgments where it had been provided garnishment notices regarding such individuals. This updating was required by FINRA’s rules. According to FINRA, during the relevant time, UBS received wage garnishment orders from courts and tax authorities but did not have a procedure to determine whether the underlying event involved an event that required an update of the relevant individual’s registration information. UBS was previously sanctioned by FINRA for its failure to update individuals’ registration information to disclose reportable customer complaints, regulatory actions or criminal charges from January 2002 through December 2004.