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Old 03-11-2019, 12:29 PM   #1
klarklar
Supremacy Member
 
Join Date: Jan 2012
Posts: 8,074
MAS said to be investigating claims UBS overcharged wealthy clients in Singapore

Even reputable private banks do this kind of thing to their clients.

Debt securities, mainly bonds, are not traded on electronic markets. You take what the bank quote you and it's not easy to check the market price out there because there is no electronic markets for the investor to check bid/ask price.

THis just tell us we can't trust the bankers and if they think they can screw the clients and get away with it, they will. Even the most reputable ones like UBS do it.

https://www.businesstimes.com.sg/ban...s-in-singapore

A report from Reuters said that UBS is working with relevant authorities to address inappropriate spreads it may have charged wealthy clients whose money was booked in Hong Kong and Singapore in debt securities transactions.
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