{ "docId": "019dd923-5e88-73ef-bd57-fcc3cf532e42", "docSlug": "72c67d77b7b29fa0", "documentTitle": "ubs best of switzerland conference presentation", "authorId": "UBS", "authorName": "UBS", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "equity_research", "sourceTypeLabel": "Equity research", "presentationDate": null, "orientation": "portrait", "aspectRatio": 0.707, "pageNumber": 336, "pageCount": 446, "prevPage": 335, "nextPage": 337, "slideType": "appendix_disclosure", "function": "appendix", "density": "overcrowded", "nDataPoints": 24, "notes": "Contains two data tables detailing provisions and a detailed narrative disclosure on litigation and regulatory matters.", "elementsJson": [ "data_table", "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5e88-73ef-bd57-fcc3cf532e42/336", "deckHref": "/decks/019dd923-5e88-73ef-bd57-fcc3cf532e42", "deckJsonHref": "/decks/019dd923-5e88-73ef-bd57-fcc3cf532e42.json", "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd57-fcc3cf532e42#slide-336", "components": [ { "bbox": null, "kind": "metric", "text": "Total provisions: 3,518", "attrs": null, "subkind": "primary", "toolName": "Quantification", "toolSlug": "quantification", "confidence": null, "componentId": "019dd952-41a9-74c8-b364-305db76e7467", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.42, "x": 0.07, "y": 0.58 }, "kind": "paragraph", "text": "The Group operates in a legal and regulatory environment that exposes it to significant litigation and similar risks arising from disputes and regulatory proceedings. As a result, UBS (which for purposes of this Note may refer to UBS Group AG and/or one or more of its subsidiaries, as applicable) is involved in various disputes and legal proceedings, including litigation, arbitration, and regulatory and criminal investigations.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "0b296da3-0ea5-4a2e-ab4d-eeef8c76a758", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.42, "x": 0.51, "y": 0.45 }, "kind": "paragraph", "text": "Information about provisions and contingent liabilities in respect of litigation, regulatory and similar matters, as a class, is included in Note 18b. There are no material contingent liabilities associated with the other classes of provisions.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "1c4c1c50-1f20-4a59-a2de-6290f6992ff1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.42, "x": 0.51, "y": 0.58 }, "kind": "paragraph", "text": "Such matters are subject to many uncertainties, and the outcome and the timing of resolution are often difficult to predict, particularly in the earlier stages of a case. There are also situations where the Group may enter into a settlement agreement. This may occur in order to avoid the expense, management distraction or reputational implications of continuing to contest liability, even for those matters for which the Group believes it should be exonerated. The uncertainties inherent in all such matters affect the amount and timing of any potential outflows for both matters with respect to which provisions have been established and other contingent liabilities. The Group makes provisions for such matters brought against it when, in the opinion of management after seeking legal advice, it is more likely than not that the Group has a present or constructive obligation as a result of past events, it is probable that an outflow of resources will be required, and the amount can be reliably estimated. Where these factors are otherwise satisfied, a provision may be established for claims that have not yet been asserted against the Group, but are nevertheless expected to be, based on the Group's experience with similar asserted claims. If any of those conditions is not met, such matters result in contingent liabilities. If the amount of an obligation cannot be reliably estimated, a liability exists that is not recognized even if an outflow of resources is probable. Accordingly, no provision is established even if the potential outflow of resources with respect to such matters could be significant. Developments relating to a matter that occur after the relevant reporting period, but prior to the issuance of financial statements, which affect management's assessment of the provision for such matter (because, for example, the developments provide evidence of conditions that existed at the reporting period), are adjusting events after the reporting period under IAS 10 and must be recognized in the financial statements for the reporting period.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "824d0048-9014-4b8d-bc90-24a009347129", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.86, "x": 0.07, "y": 0.45 }, "kind": "paragraph", "text": "Restructuring provisions primarily relate to personnel-related provisions and onerous contracts. Personnel-related restructuring provisions are used within a short period of time but potential changes in amount may be triggered when natural staff attrition reduces the number of people affected by a restructuring event and therefore the estimated costs. Onerous contracts for property are recognized when UBS is committed to pay for non-lease components, such as utilities, service charges, taxes and maintenance, when a property is vacated or not fully recovered from sub-tenants.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f91d8a42-a1cb-455c-9071-6a2b6e1148b9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.86, "x": 0.07, "y": 0.17 }, "kind": "table", "text": "Overview of total provisions for 2021 and 2020.", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "2baceaf9-1b8e-42e1-b915-bf04c64acf1e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.86, "x": 0.07, "y": 0.28 }, "kind": "table", "text": "Detailed movement of provisions other than expected credit losses by category (Litigation, Restructuring, Other).", "attrs": null, "subkind": "data", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c7f2942b-c7aa-4e6d-a757-62d4e831bb05", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.4, "x": 0.07, "y": 0.09 }, "kind": "title", "text": "Note 18 Provisions and contingent liabilities", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9ad4a7b2-2b5a-4e17-9163-ab127f4dc066", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.35, "x": 0.07, "y": 0.54 }, "kind": "title", "text": "b) Litigation, regulatory and similar matters", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "dbb0759c-2a39-4f16-baf2-332dbfc386c7", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [ { "name": "Table data", "slug": "table-data", "agent": null, "layer": "slide", "matchId": "2c50bcd2-3cce-4769-a79c-b07bb297b3eb", "evidence": "table/data: Detailed movement of provisions other than expected credit losses by category (Litigation, Restructuring, Other)", "confidence": 0.9 } ], "frameworks": [], "arcBeats": [ { "to": 446, "from": 81, "beatId": "0b1398a4-916e-492f-856a-8d8a0f442792", "arcName": "Monroe's Motivated Sequence", "arcSlug": "monroes-sequence", "beatName": "Action", "beatSlug": "monroes-sequence-action", "evidence": "The document concludes with detailed financial and operating performance data, and risk management information.", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }