Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

UBS, authorities eye client overcharges in Singapore and Hong Kong

Published 10/22/2019, 02:30 AM
Updated 10/22/2019, 02:34 AM
UBS, authorities eye client overcharges in Singapore and Hong Kong
UBSG
-

ZURICH (Reuters) - UBS (S:UBSG) is working with relevant authorities to address inappropriate spreads it may have charged wealthy clients whose money was booked in Hong Kong and Singapore in debt securities transactions, it said in its third-quarter report on Tuesday.

"UBS intends to reimburse affected customers on a basis agreed with the relevant authorities. UBS expects the

relevant authorities will subject UBS to reprimands and fines as a result of their investigations," it said, noting that it had identified and reported the instances related to transactions between 2008 and 2015.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.