SINGAPORE (Nov 14): The Monetary Authority of Singapore (MAS) has imposed a civil penalty of $11.2 million on UBS for deceptive trades made by the investment bank’s client advisors in Singapore.

In a statement on Thursday, MAS noted that the client advisors had “engaged in acts that deceived or were likely to deceive clients about the spreads and/or interbank prices for transactions in over-the-counter (OTC) bonds and structured products”.

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