UBS Probes Role of Client Advisors Over Currency Derivatives
The fallout from the sale of high-risk currency derivatives appears to be widening. UBS is reportedly reviewing the conduct of six client advisers involved in selling the complex products.
According to a «Bloomberg» report, the Swiss banking giant is scrutinising the role of these advisers after they sold complex currency derivatives to clients in Switzerland who allegedly did not fully understand the associated risks.
Sources familiar with the matter said that several of the bankers have already left the bank, while the roles of those remaining are still under review.
Unexpected Consequences Spark Internal Review
UBS had previously stated that it had examined the individual cases. «We have completed a review of this matter and found that a very small number of clients at a few locations in Switzerland experienced unexpected consequences related to US tariff-driven market volatility in April 2025,» the bank said.
«We have taken this matter seriously from the beginning and reviewed each client case individually.»
Goodwill Payments Made to Around 100 Clients
According to media reports, UBS has reached settlements with several affected clients through «goodwill payments.» The «Financial Times» reported that the bank made payments to around 100 Swiss clients in connection with the issue.
