(November 15 11:59) Sbr.com.sg
Submitted By:
Staff Reporter
Case Study:
No
They did not inform the clients of higher spread or improved interbank price of bonds.
The Monetary Authority of Singapore (MAS) imposed a $11.2m fine on UBS after its client advisors’ deceived customers on the prices of transactions for over-the-counter (OTC) bonds and structured products.
UBS admitted liability for its client advisors’ actions and has paid the civil penalty, the financial authority said in a press release.
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