The Monetary Authority has taken disciplinary action against UBS AG, Hong Kong Branch ordering it to pay a penalty of HK$9 million.
Axel P. Lehmann has decided to step down from his current roles as President Personal & Corporate Banking and President UBS Switzerland.
UBS AG will not have to produce detailed information about its communications with the DOJ regarding FX fines from 2015.
Foreign Exchange, Rates and Credit revenues increased by USD 156 million, or 41%, to USD 533 million, driven by
increased client activity levels.
According to the plaintiffs, the defendant banks have to produce detailed information about their plea agreements with the DOJ.