The Financial Conduct Authority (FCA) has fined UBS AG £27.6m for failings relating to 135.8 million transaction reports between November 2007 and May 2017.
The regulator said UBS failed to ensure it provided "complete and accurate information" regarding approximately 86.7 million reportable transactions. The firm also unnecessarily reported 49.1 million transactions to the FCA, meaning that altogether UBS made 135.8 million errors in its transaction reporting, breaching FCA rules, over a nine and a half years. FCA gives Keydata boss two weeks to pay £76m fine The FCA also found failings in aspects of UBS's change management processes, its maintenance of the reference data used in its reporting and how it tested whether all the transac...
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