Naratil also declined to comment on the firm's plans to comply with the Labor Department's Fiduciary Rule, which is designed to protect retirement savers by requiring that brokers put their clients' best interests ahead of their own bottom line. It is set to take effect in April. Rival firms like Morgan Stanley and Bank of America's Merrill Lynch announced their plans last month.
It is unclear if Trump will try to delay implementation of the rule.

Regulators have also narrowed in on the securities industry since the sales scandal at Wells Fargo & Co's retail bank, which opened 2 million accounts for customers without their knowledge.
Groups like the Financial Industry Regulatory Authority have ordered brokerages to hand over information about bonuses that brokers can earn for meeting sales targets.

Naratil said UBS has examined its sales goals and bonuses.

"We don't see anything similar" to what went on at Wells Fargo's retail bank, Naratil said. "I don't think it is a problem across the wealth management industry as a whole."

This article was provided by Reuters.

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