As part of the resolution, UBS will pay a fine of 730 million euros ($860.45 million) plus 105 million euros in civil damages to the French state, it said in a statement.
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In 2023, the French Supreme Court confirmed a Paris appeals court’s decision finding UBS guilty of unlawful client solicitation and aggravated money laundering and referred the financial penalty and civil damages to be re-assessed by the lower court.
($1 = 0.8484 euros)
Writing by Rachel More, Editing by Friederike Heine