Every material Form 8-K UBS ASSET MANAGEMENT HIGH YIELD CREDIT FUND has filed with the SEC since December 13, 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Effective June 19, 2024, Ernst & Young LLP was engaged as the independent registered public accounting firm for the fund for the fiscal year ending October 31, 2024. The Board approved the change on the recommendation of its Audit Committee, and the filing states there were no disagreements or reportable events with the prior accounting arrangement during the periods covered, which shareholders can read as a routine change.
Ernst & Young LLP engaged effective June 19, 2024
Engagement covers the fiscal year ending October 31, 2024
Board approved the engagement on the Audit Committee's recommendation
No disagreements or reportable events in fiscal years ended October 31, 2022 and 2023, or through June 19, 2024
The fund's board approved dismissing PricewaterhouseCoopers LLP as its independent registered public accounting firm on April 23, 2024, because PwC will cease to be deemed independent for the fund after April 30, 2024. The filing states PwC's prior reports had no adverse opinion, disclaimer, or qualification, and that there were no disagreements or reportable events; separately, Credit Suisse Asset Management merged into UBS Asset Management (Americas) on May 1, 2024, which became the fund's investment manager.
Board approved dismissal of PwC on April 23, 2024; PwC ceases to be deemed independent for the fund after April 30, 2024
PwC's reports for fiscal years ended October 31, 2023 and 2022 contained no adverse opinion, disclaimer, or qualification
On May 1, 2024, UBS Asset Management (Americas) LLC became the fund's investment manager after the Credit Suisse merger
PwC's letter dated May 2, 2024 is filed as Exhibit 16.1
The SEC issued a cease-and-desist order against Credit Suisse and affiliates, which consented without admitting or denying findings. The SEC said Credit Suisse acted as the fund's investment adviser in violation of Section 9(a) of the Investment Company Act of 1940 from October 24, 2022 to June 7, 2023, and the firms agreed to pay $10,080,220 in disgorgement, interest and civil penalties.
SEC order dated December 13, 2023; Credit Suisse and affiliates censured and agreed to cease and desist
Alleged violation period: October 24, 2022 to June 7, 2023
Total payment of disgorgement, prejudgment interest and civil penalties: $10,080,220
Fund services continue under a time-limited exemption through June 12, 2024, when they are expected to move to UBS advisers
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every UBS ASSET MANAGEMENT HIGH YIELD CREDIT FUND filing is on SEC EDGAR ↗. 8-K briefs of other companies →