The U.K. Financial Conduct Authority has fined UBS £27.6 million (U.S. $36.6 million) for failings relating to nearly 136 million transaction reports.
Specifically, UBS failed to ensure it provided complete and accurate information in relation to approximately 86.67 million reportable transactions, according to the FCA. UBS also erroneously reported 49.1 million transactions to the FCA, which were not, in fact, reportable. Altogether, the total number of transaction reports impacted by these errors was approximately 135.8 million between November 2007 and May 2017 in breach of FCA rules.
