Sales Restrictions

UBS AG is regulated by the Securities and Futures Authority in the conduct of investment business in the UK.

Depending, however, on the jurisdictions where the services described on these web pages are delivered and received, those services may not constitute UK investment business and the regulatory regime and, specifically,any compensation arrangements applicable may, therefore, not be that of the UK.

This information does not constitute either an offer of services or a solicitation of an offer of services in a country in which this type of offer or solicitation is unlawful, or in which a person making such an offer or solicitation does not hold the necessary authorization to do so. It is also not aimed at such persons, in those cases where the law prohibits this type of offer or solicitation from being made.

Not intended for distribution in the US and to US persons.