UBS hit with £27.6 million penalty over massive transaction reporting fail

Published On - March 21, 2019

admin Trade Reporting

UBS has been fined £27,599,400 by the Financial Conduct Authority (FCA) for failings relating to 135.8 million transaction reports over a ten-year period.The FCA found that between November 2007 and May 2017, UBS failed to ensure it provided complete and accurate information in relation to approximately 86.67m reportable transactions. It also erroneously reported 49.1m transactions to the FCA, which were not, in fact, reportable.