UBS Financial Services has agreed to pay a total of $125 million to settle charges of repeated Bank Secrecy Act (BSA) anti-money laundering (AML) and countering the financing of terrorism (CFT) violations, following separate agreements with four U.S. regulators.

The settlements were reached with the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN), FINRA and the Securities and Exchange Commission (SEC), according to PYMNTS.

In an emailed statement obtained by PYMNTS, UBS said: "Today's announcement brings closure to this legacy matter. UBS has cooperated fully with its regulators and has made significant investments to remediate and strengthen its AML program."

  • The CFTC, FinCEN, FINRA and SEC each reached individual agreements with UBS Financial Services.
  • The combined settlement amount across the four regulators totals $125 million.
  • UBS stated it has cooperated fully with regulators and invested in remediating its AML program.

Source: PYMNTS