Reported 1 day ago
UBS is in negotiations to compensate clients who suffered significant losses from foreign exchange derivatives following President Trump's tariff announcements, which caused major fluctuations in currency markets. Hundreds of clients, particularly wealthier individuals who may not have fully understood the complex financial products they purchased, are impacted, resulting in accumulated losses in the hundreds of millions of Swiss francs. Even though these losses represent a minor portion of UBS's overall managed assets, discussions about client compensation are rare in the banking industry.
Source: YAHOO