Exhibit 12
CERTIFICATION UNDER SECTION 302 OF THE
SARBANES-OXLEY ACT OF 2002
I, Sergio Ermotti,
certify that:
1.
I have reviewed this annual report on
Form 20-F of UBS AG;
2.
Based on my knowledge, this report does
not contain any untrue statement of a
material fact or omit
to state a material fact necessary to make the
statements made, in light of the circumstances
under
which such statements were made, not
misleading with respect to the period covered by
this report;
3.
Based on my knowledge, the financial statements,
and other financial information included in
this
report, fairly present in all material respects
the financial condition, results of operations and
cash
flows of the company as of, and for, the periods presented in
this report;
4.
The company’s other certifying officer(s) and I are responsible
for establishing and maintaining
disclosure controls and procedures (as defined
in Exchange Act Rules 13a-15(e) and 15d-15(e))
and
internal control over financial reporting (as defined
in Exchange Act Rules 13a-15(f) and 15d-15(f))
for
the company and have:
a.
Designed such disclosure controls and procedures,
or caused such disclosure controls and
procedures to be designed under our supervision,
to ensure that material information relating
to the company, including its consolidated subsidiaries, is made known to us
by others within
those entities, particularly during the period in
which this report is being prepared;
b.
Designed such internal control over financial
reporting, or caused such internal control
over
financial reporting to be designed under our
supervision, to provide reasonable assurance
regarding the reliability of financial reporting
and the preparation of financial statements
for
external purposes in accordance with generally
accepted accounting principles;
c.
Evaluated the effectiveness of the company’s disclosure
controls and procedures and
presented in this report our conclusions about
the effectiveness of the disclosure controls and
procedures, as of the end of the period covered
by this report based on such evaluation;
and
d.
Disclosed in this report any change in the company’s
internal control over financial reporting
that occurred during the period covered
by the annual report that has materially
affected, or is
reasonably likely to materially affect, the company’s internal
control over financial reporting;
and
5.
The company’s other certifying officer(s) and I have disclosed,
based on our most recent evaluation
of
internal control over financial reporting, to
the company’s auditors and the audit committee
of the
company’s board of directors (or persons performing
the equivalent functions):
a.
All significant deficiencies and material weaknesses
in the design or operation of internal
control over financial reporting which are
reasonably likely to adversely affect the company’s
ability to record, process, summarize and
report financial information; and
b.
Any fraud, whether or not material, that
involves management or other employees
who have a
significant role in the company’s internal control
over financial reporting.
/s/
Sergio Ermotti _________________
Title:
President of the Executive Board