A woman woman walks past a construction road sign in front of a branch of Swiss Bank UBS in Lugano, southern Switzerland December 20, 2012. REUTERS/Michael Buholzer
UBS fined $15 million for failings in AIG fund sale
Posted : Tuesday, 12 February 2013 05:52AM
LONDON (Reuters) - Swiss bank UBS <UBSN.VX> has been fined 9.45 million pounds ($14.80 million) by Britain's financial regulator for exposing customers to unacceptable risk when it sold a fund.
The Financial Services Authority (FSA) said on Tuesday the Swiss-based bank, which was last year fined $1.5 billion for rigging benchmark interest rates, also failed to deal properly with customer complaints about the sale of the AIG Enhanced Variable Rate Fund.
(Reporting by Kirstin Ridley, Editing by Sinead Cruise)
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