UBS Fined $8.2 Million by Singapore for Misconduct by Advisers

UBS Sees Australia Bond Rally Pushing Yields Down to Record 0.5% — Photographer: Ian Waldie/Bloomberg

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November 14, 2019 at 5:22 AM EST

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Singapore’s regulator fined UBS Group AG S$11.2 million ($8.2 million) for misconduct by its advisers that included overcharging clients for trades.

UBS’s advisers engaged in acts that deceived or were likely to deceive its clients about the spreads and prices on bond and structured product transations, the Monetary Authority of Singapore said Thursday.

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