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UK markets watchdog fines UBS 27.6 million pounds for reporting failures

LONDON, March 19 (Reuters) - Britain’s markets watchdog said on Tuesday it had fined Swiss bank UBS 27.6 million pounds for failing to report transactions properly for nearly a decade.

The Financial Conduct Authority (FCA) said the failings cover 135.8 million transaction reports between November 2007 and May 2017.

“If firms cannot report their transactions accurately, fundamental risks arise, including the risk that market abuse may be hidden,” said Mark Steward, the FCA’s executive director of enforcement. (Reporting by Huw Jones, editing by Sinead Cruise)

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