Reuters: Regulatory News: UBS fined $15 mln for failings in AIG fund sale

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UBS fined $15 mln for failings in AIG fund sale Feb 12th 2013, 10:47 LONDON | Tue Feb 12, 2013 5:47am EST LONDON Feb 12 (Reuters) - Swiss bank UBS has been fined 9.45 million pounds ($14.80 million) by Britain's financial regulator for exposing customers to unacceptable risk when it sold a fund. The Financial Services Authority (FSA) said on Tuesday the Swiss-based bank, which was last year fined $1.5 billion for rigging benchmark interest rates, also failed to deal properly with customer complaints about the sale of the AIG Enhanced Variable Rate Fund.

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