Private bank incentives for bond deals come under pressure
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Singapore
CONTROVERSIAL private bank rebates in Asian bond issues could soon become a thing of the past, after UBS stopped indulging in the practice and banks in Singapore started disclosing details of the incentives they receive.
Bookrunners routinely offer one-off rebates of 25 cents to one dollar per US$100 in face value to encourage private banks to study a bond offering and potentially recommend it to clients.
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