According to latest news from a Dimond Kaplan & Rothstein, P.A. law firm, UBS Group AG branch is under investigation due inappropriate fx market recommendations and sales of respective products, which included the UBS V10 Enhanced FX Carry Strategy. The company promoted the product differently from its real conduct.
Investigation is lead by US Justice Department and is part of broader manipulation investigation on FX market. FINRA received more arbitration claims and some lawsuits were already led against the company due to losses in billions of dollar relatied to UBS Puerto Rico bond funds and Lehman Brothers structured products, sold via UBS.
Moreover, even Barclays Plc faces suspicions related to fx products with optimized currency carry strategy.
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