{"id":18461,"date":"2019-11-13T14:58:27","date_gmt":"2019-11-13T20:58:27","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=18461"},"modified":"2019-11-14T10:02:15","modified_gmt":"2019-11-14T16:02:15","slug":"ubs-group-fined-51m","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/ubs-group-fined-51m\/","title":{"rendered":"Hong Kong Fines UBS Group $51M For Overcharging Clients"},"content":{"rendered":"<h2><span style=\"font-weight: 400;\">UBS Group Fined $51M By Hong Kong Securities Regulator<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">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 to customers that were harmed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the Hong Kong regulator, about 5,000 clients paid more than they should have in approximately 28,700 transactions. This happened after UBS advisors and assistants added padding to spreads involving bonds, as well as structured note trades and charging extra fees. UBS Group is accused of not disclosing to clients that they were paying these fees.\u00a0<\/span><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/ubs-group-fined-51m\/\"  title=\"Continue Reading Hong Kong Fines UBS Group $51M For Overcharging Clients\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>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 to customers that were harmed.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":18463,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3783,4039,4056,3755],"tags":[3083,4163,3070],"class_list":["post-18461","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-misconduct","category-puerto-rico-bond-funds","category-puerto-rico-ubs-bond","category-ubs","tag-puerto-rico-bond-funds","tag-ubs-group-ag","tag-ubs-puerto-rico"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>UBS Group Fined $51M For Overcharging Clients | Stock Fraud Lawyers<\/title>\n<meta name=\"description\" content=\"UBS Group has been fined $51M by the Hong Kong SFC after over 5,000 clients fell victim to being overcharged by the advisory group. Read more here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/ubs-group-fined-51m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"UBS Group Fined $51M For Overcharging Clients | Stock Fraud Lawyers\" \/>\n<meta name=\"twitter:description\" content=\"UBS Group has been fined $51M by the Hong Kong SFC after over 5,000 clients fell victim to being overcharged by the advisory group. 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