Mexico Fines UBS Equities Trader, Bank of Nova Scotia, HSBC
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Mexico’s National Banking and Securities Commission fined Hans Klingbeil, an equities trader at UBS AG, 1.5 million pesos ($123,000) for using inside information to make stock recommendations to his clients.
The commission also fined Bank of Nova Scotia’s local unit 10 million pesos for nine violations, including failure to give clients proper information to make trading decisions, according to rulings posted on the agency’s website and dated Aug. 8.