A PYMNTS Company

US: UBS currency probed by DoJ

By  |  February 9, 2015

The U.S. Department of Justice is examining currency-linked investments offered by Barclays and UBS , the Financial Times reported on Sunday.

The agency is looking into whether the two banks sold so-called structured products without disclosing the profit they were making from currency trades used to generate the products’ returns.

The Department of Justice is also investigating other banks over allegations of inadequate profit disclosure to clients and counter parties involved in currency deals, the FT reported.

 

Full Content: Bloomberg

 

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.