UBS fined $51 million by Hong Kong regulator for overcharging clients

HONG KONG (Reuters) - Swiss bank UBS was fined HK$400 million (40 million pound) by Hong Kong's securities regulator for overcharging up to 5,000 clients for nearly a decade, the watchdog said on Monday.The Hong Kong Securities and Futures Commission (SFC) said in a statement that an investigation found UBS had overcharged clients on 'post-trade spread increases' and charges in excess of standard disclosures and rates between 2008 and 2017.THE SFC said the investigation exposed 'serious..