UBS Curbs Sale of Some FX Products to Retail Clients After Losses

UBS Group AG is temporarily restricted from selling complex currency derivatives to Swiss retail clients after the practice plunged some buyers into deep losses last year, highlighting how the issue has reverberated through the Swiss bank.

The lender now offers the products — known as range target profit forwards, or RTPFs — only to professional investors in its home market, according to people familiar with the matter. The national financial regulator Finma has also started an investigation into the matter, they said, asking not to be identified discussing the private matter.