Singapore fines UBS US$8 million for deceptive trades
UBS admitted liability for its advisers' actions and paid a civil penalty, says the Monetary Authority of Singapore. – EPA pic, November 15, 2019.
SINGAPORE has fined Swiss banking giant UBS S$11.2 million after investigations showed its advisers deceived clients about prices for bonds and other financial products. The city-state’s central bank, the Monetary Authority of Singapore , said UBS had admitted liability for its advisers’ actions and paid a civil penalty.
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