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UBS fined S$11.2 million by MAS on spread overcharges, transparency issues

The Monetary Authority of Singapore has fined UBS S$11.2 million (US$8.2 million) over contraventions related to spread overcharges and improper disclosure, following the SFC’s US$51 million fine on Monday. The misconduct found by MAS was similar to that of Hong Kong’s securities regulator, which includes the lack of adherence to spread or interbank prices agreed to by clients, the failure…

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