UBS fines for misselling structured products could be first of many

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UBS criticised for its practices relating to sales of structured products

“We first started to get involved in these cases almost immediately after Lehman went bust and during that time we have had a steady flow of people who were told a variety of false things about structured products,” says Seth Lipner, partner at Deutsch and Lipner in New York. The Swiss bank has lost five cases to date, he says.

The products UBS sold were mostly the 100% principal-protected notes and return optimisation securities with some capital protection, a large number of which were issued b