High Net Worth Individual Investor Alleges That UBS Group AG Persuaded Him To Buy On Margin Guo Wengui, a rich Chinese businessman exiled in New York, has filed a lawsuit against UBS Financial Group after losing $500M. Wengui contends that the bank pressured him into borrowing funds to invest in…
UBS Group Fined $51M By Hong Kong Securities Regulator The Hong Kong Securities and Futures Commission (SFC) is ordering UBS Group AG (UBS) to pay a $51M fine for overcharging clients between 2008 and 2017. It is also ordering the Swiss banking giant to pay more than $25M in compensation…
Clients of UBS Group AG (UBS) who employed the firm’s Yield Enhancement Strategy (YES) are now filing investor fraud complaints after suffering at least $60M in losses to date. YES involves options trades and borrowing that was supposed to be “safe” and low risk while earning investors positive returns. The…