UBS Reviews Precious Metals Business As Regulatory Attention Intensifies

Swiss banking giant UBS AG (VTX:UBSN) disclosed in its annual report on Friday that it is reviewing its precious metals business as global regulators step up their examination of currency and commodity benchmarks. "Precious metals is a niche market though it's part of what UBS considers value-added for its wealth management clients," said Vontobel Holding AG analyst Andreas Venditti to Bloomberg.