UBS AG announced today that it has resolved the issue of heritage about its cross -border business activities in France between 2004 and 2012.
As part of the resolution, UBS Ag agreed to pay a fine of EUR 730 million and € 105m in civil loss in the French state.
In 2023, the French Supreme Court definitively confirmed the previous ruling of the Paris Court of Appeal, found that UBS was guilty of illegally attracting customers and aggressive money laundering, but reported the financial penalty and civil damages.
Resolving this case of inheritance is in line with UBS’s intention to resolve such issues in the interests of all stakeholders.
UBS is fully provided on the subject.