According to the regulator, UBS failed to disclose its holdings in companies it covered in its research reports between 2004 and 2018.
The fine also applies to a handful of other compliance breaches, including the bank’s failure to record 35 telephone lines between 2017 and 2019.
The SFC says more than 2,000 transactions involving over 400 clients were conducted over these unrecorded channels.
Another failure saw UBS unable to obtain authorisation from 91 clients not classified as professional investors in regards to 913 securities pooled lending transactions between 2012 and 2019.
