FCA fines UBS £28m for reporting failures

Relates to 136 million transaction reports

Beth Brearley
clock
The FCA also found failings in aspects of UBS's change management processes
Image:

The FCA also found failings in aspects of UBS's change management processes

The Financial Conduct Authority (FCA) has fined UBS AG £27.6m for failings relating to 135.8 million transaction reports between November 2007 and May 2017.

The regulator said UBS failed to ensure it provided "complete and accurate information" regarding approximately 86.7 million reportable transactions. The firm also unnecessarily reported 49.1 million...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Investment

Emerging markets "disproportionately" affected by climate change

Ninety One unveils sovereign net zero index allowing investors to hold governments to account

Emerging markets "disproportionately" impacted by climate change

clock 27 October 2021 • 2 min read
DWS benefitted from high management fees

DWS profits soar to 'all-time high' in Q3 driven by record high management fees

Net inflows reached €12bn in Q3

clock 27 October 2021 • 1 min read
All the latest from the world of ESG investing

ESG Blog: Barings becomes signatory to Investor Agenda's 2021 Global Investor Statement

Round-up of ESG coverage

Investment Week
clock 26 October 2021 • 1 min read