The new accord with the Texas State Securities Board brings relief to non-institutional investors who moved their accounts from UBS before 13 February 2008, when the ARS market froze.

UBS is quoted as stating that the accord is its latest step to restore liquidity to investors who "continue to have difficulty finding relief" and that it expects more states to join the accord. It also said the $6.64 million payment comes out of the states' cut of the original $150 million penalty.