UBS is examining the role of six relationship managers who sold complex currency derivatives to Swiss clients, according to a report by news agency Bloomberg, citing sources familiar with the matter.

The client advisors allegedly sold the products to clients without those clients fully understanding the associated risks, the sources said. Some of the bankers have already left the bank, while the situation of the remaining advisors is still under review, they added.

UBS had previously stated that it had reviewed the individual cases. «We have completed a review of this matter and found that a very small number of clients at a few locations in Switzerland experienced unexpected effects due to tariff-related market volatility in the U.S. in April 2025,» the bank said in a statement. «We have taken this matter seriously from the outset and have reviewed each client case individually.»

According to media reports, the bank reached settlements with some clients involving "goodwill payments." The Financial Times reported that UBS had made payments to Swiss clients in approximately 100 cases.