Hong Kong's Securities and Futures Commission found the bank's malpractice affected roughly 5,000 clients over about 28,700 transactions.
Hong Kong regulators fined UBS roughly $51 million on Monday for overcharging wealthy clients for a decade. The country's Securities and Futures Commission said the Swiss bank added excess fees to bond and structured-note trades between 2008 and 2015. It also said the bank took two years to report the malpractice after the initial discovery. The commission considered UBS's disciplinary action against the more than 20 involved employees when deciding the size of the fine.
Hong Kong regulators fined UBS roughly $51 million on Monday for overcharging wealthy clients for a decade. The country's Securities and Futures Commission said the Swiss bank added excess fees to bond and structured-note trades between 2008 and 2015. It also said the bank took two years to report the malpractice after the initial discovery. The commission considered UBS's disciplinary action against the more than 20 involved employees when deciding the size of the fine.
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