Violation Tracker UK Individual Case

Company: UBS AG
Current Parent Company: UBS
Penalty: £9,450,000
Year: 2013
Date: 8 February, 2013
Offence Group: financial offences
Offence Type: investor protection violation
Violation Description: UBS paid a £9.45 million fine in settlement of a finding by the FSA that the company mis-sold investment funds by selling a Fund that was insufficiently understood, not sufficiently checking or reviewing customers' requirements and tolerance to risk, and not responding appropriately to the risks to the Fund during the financial crisis in 2007 and 2008.
Action Type: agency action
Settlement Type: settlement of FSA Decision
Agency: Financial Services Authority
HQ Country of Parent: Switzerland
Ownership Structure of Parent: publicly traded
Major Industry of Parent: financial services
Specific Industry of Parent: banking & securities
Source of Data: (click here)