(Bloomberg) -- The U.S. Justice Department is looking into
whether UBS Group AG misled clients in the marketing and selling
of some foreign-exchange structured products, according to
people with knowledge of the situation.
Investigators have offered so-called proffer agreements to some UBS employees in recent weeks as they look into the UBS V10 Enhanced FX Carry Strategy, a product sold to institutional investors such as hedge funds and pension funds, according to one of the people, who asked not to be identified because the interviews are private. The Justice Department is focusing on whether banks misrepresented how currency transactions were priced, two people said. The scrutiny is part of authorities’ wider probe into manipulation in the foreign-exchange market.
Read more at Click here / www.trade4x.net
Investigators have offered so-called proffer agreements to some UBS employees in recent weeks as they look into the UBS V10 Enhanced FX Carry Strategy, a product sold to institutional investors such as hedge funds and pension funds, according to one of the people, who asked not to be identified because the interviews are private. The Justice Department is focusing on whether banks misrepresented how currency transactions were priced, two people said. The scrutiny is part of authorities’ wider probe into manipulation in the foreign-exchange market.
Read more at Click here / www.trade4x.net
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