UBS to work with CSSF over Madoff scandal

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UBS to work with CSSF over Madoff scandal

The Commission de Surveillance du Secteur Financier (CSSF) have steted that the UBS and the CSSF met on Thursday to discuss the circumstances of Luxalpha SICAV – American Selection and Luxembourg Investment Fund - US Equity Plus, two Luxembourg funds which have been hit by the Madoff scandal.

Pursuant to those discussions, UBS and CSSF agreed to cooperate in their efforts to determine the relevant facts and define the way forward in close conjunction with all others who are affected by the events in order to find a solution as soon as possible.