UBS fined $51 million by Hong Kong regulator for overcharging clients

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UBS fined $51 million by Hong Kong regulator for overcharging clients
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Swiss bank UBS was fined HK$400 million ($51.09 million) by Hong Kong's sec...

FILE PHOTO: The logo of Swiss bank UBS is seen at an office building in Zurich, Switzerland January 27, 2017. REUTERS/Arnd Wiegmann/File Photo

The Hong Kong Securities and Futures Commission said in a statement that an investigation found UBS had overcharged clients on ‘post-trade spread increases’ and charges in excess of standard disclosures and rates between 2008 and 2017.

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