The UBS penalty is the second-largest fine paid by a bank and comes a week after HSBC agreed to pay the biggest of £1.1 billion to settle an investigation in the US into laundering money for drug cartels.
We deeply regret this inappropriate and unethical behaviour. No amount of profit is more important than the reputation of this firm, and we are committed to doing business with integrity.
More top news
Staff at the children's hospital treating seriously ill toddler Alfie Evans say they have suffered "unprecedented personal abuse".
A former solider is helping to combat loneliness with a cafe where former military personnel can find the friendship and support they need.
French president Emmanuel Macron called on Donald Trump to launch a new era of 21st century leadership and security.