3 February 2020 - 12:00

UBS Group Unit Under Investigation By Italy's Prosecutors

European subsidiary, UBS Europe, is accused of money laundering and helping Sofia Sgr, an asset-management firm, to deceive clients by charging higher fees. The bank is also being indicted of concealing the fraud and obstructing regulators’ work. The firm is currently under investigation by prosecutors in Milan.

› source:  Zacks Equity Research