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UBS fined S$11.2m in Singapore; HK$400m in HK
MAS slaps it with civil penalty over deceptive trades; HK authorities fine it for overcharging 5,000 clients
Published Thu, Nov 14, 2019 · 09:50 PM
Singapore
THE Monetary Authority of Singapore (MAS) has slapped a S$11.2 million civil penalty on UBS over deceptive trades by the bank's client advisers in Singapore.
This comes just four days after UBS was fined HK$400 million (S$69.6 million) in Hong Kong for overcharging some 5,000 clients between 2008 and 2017.
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