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UBS faces $153 million U.S. fine for AML compliance failures
UBS Financial Services has been hit with a coordinated $153 million penalty from U.S. regulators, including FinCEN, FINRA, and the CFTC. The fine, which includes a $125 million penalty from FinCEN, is cited as the largest anti-money laundering (AML) fine ever imposed on a broker-dealer, stemming from recidivist failures in transaction monitoring and compliance processes.
In addition to these U.S. penalties, the bank faces regulatory uncertainty in Switzerland. A Swiss parliamentary committee has postponed decisions regarding new capital requirements for UBS until August 31. The proposed regulations could require the bank to hold an additional $20 billion in core capital, a move that continues to impact investor outlook.
Entities
CFTC · European Union · FINRA · FinCEN · Solicitors Regulation Authority · Switzerland · U.S. Senate · UBS Financial Services
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Proposed Swiss regulations could require UBS to hold approximately $20 billion in additional core capital. www.kapitalmarktexperten.de
- [● 2 SOURCES] The total penalty against UBS from US authorities sums to $153 million. www.finscan.com · www.kapitalmarktexperten.de
- [○ 1 SOURCE] A Swiss parliamentary committee postponed discussions on new capital requirements for UBS until August 31. www.kapitalmarktexperten.de
- [● 2 SOURCES] UBS Financial Services received a $125 million fine from FinCEN. www.finscan.com · www.kapitalmarktexperten.de
- [● 2 SOURCES] The fines were issued due to failures in anti-money laundering (AML) and transaction monitoring compliance. www.finscan.com · www.kapitalmarktexperten.de