UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

Date: November 15, 2023

UBS Group AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

(Address of principal executive office)

Commission File Number: 1-36764

UBS AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

Aeschenvorstadt 1, 4051 Basel, Switzerland 

(Address of principal executive offices)

Commission File Number: 1-15060

Indicate by check mark whether the registrants file or will file annual reports under cover of Form

20-F or Form 40-

F.

Form 20-F 

☒

 Form 40-F 

☐

This Form 6-K consists of the news release which appear immediately following this page.

Investor Relations

Tel. +41-44-234 41 00

Media Relations

Tel. +41-44-234 85 00

UBS Group AG, News Release, 15 November 2023 Page 1

15 November 2023

Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules

News Release

French Supreme Court refers UBS legacy matter to Appeals Court

Zurich, 15 November 2023 – The French Supreme Court issued a judgement today on a legacy matter related

to UBS’s cross-border business activities in France between 2004 and 2012.

The Supreme Court upheld the previous court decision regarding unlawful client solicitation and aggravated

laundering of the proceeds of tax fraud, while overturning the confiscation of EUR 1bn, the fine of EUR

3.75m and EUR 800m in civil damages awarded to the French state. The case is now being referred back to

the Paris Court of Appeal, which will reconsider the overturned elements and deliver its judgement after a

new trial.

While UBS is pleased that the highest court in France agrees with its position on these important aspects of

the legal case, UBS is disappointed that the French Supreme Court has confirmed the previous court decision

regarding unlawful client solicitation and aggravated laundering of the proceeds of tax fraud despite the

treaty between Europe and Switzerland on the taxation of savings income and a lack of specific evidence for

the alleged facts. UBS continues to maintain that it acted in accordance with all applicable laws and

regulations at all times. UBS will defend itself in the forthcoming trial.

UBS Group AG

Investor Relations:

Switzerland: +41-44-234 41 00

Media Relations:

Switzerland: +41-44-234 85 00

UK: +44-207-567 47 14

Americas: +1-212-882 58 58

APAC: +852-297-1 82 00

www.ubs.com/media

Investor Relations

Tel. +41-44-234 41 00

Media Relations

Tel. +41-44-234 85 00

UBS Group AG, News Release, 15 November 2023 Page 2

Disclaimer

This document contains statements that constitute “forward-looking statements.” While these forward-looking statements

represent UBS’s judgments and expectations concerning the matters described, a number of risks, uncertainties and other

important factors could cause actual developments and results to differ materially from UBS’s expectations. For a discussion of

the risks and uncertainties that may affect UBS’s future results please refer to the “Risk Factors” and other sections of UBS’s

most recent Annual Report on Form 20-F, risk factors filed by UBS Group AG with the SEC on 31 August 2023 in Form 6-K,

quarterly reports and other information furnished to or filed with the US Securities and Exchange Commission on Form 6-K.

UBS’s Annual Report on Form 20-F, quarterly reports and other information furnished to or filed with the US Securities and

Exchange Commission on Form 6-K are also available at the SEC’s website:

www.sec.gov.

This Form 6-K is hereby incorporated by reference into (1) each of the registration statements on Form

F-3 (Registration Numbers 333-263376

and 333-272452), and on Form S-8 (Registration Numbers

333-200634; 333-200635; 333-200641; 333-200665; 333-215254; 333-215255; 333-228653; 333-

230312; 333-249143 and 333-272975), and into each prospectus outstanding under any of the

foregoing registration statements, (2) any outstanding offering circular or similar document issued or

authorized by UBS AG that incorporates by reference any Forms 6-K of UBS AG that are

incorporated into its registration statements filed with the SEC, and (3) the base prospectus of

Corporate Asset Backed Corporation (“CABCO”) dated June 23, 2004 (Registration Number 333-

111572), the Form 8-K of CABCO filed and dated June 23, 2004 (SEC File Number 001-13444), and

the Prospectus Supplements relating to the CABCO Series 2004-101 Trust dated May 10, 2004 and

May 17, 2004 (Registration Number 033-91744 and 033-91744-05).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly

caused this report to be signed on their behalf by the undersigned, thereunto duly authorized.

UBS Group AG

By: _/s/ David Kelly______________

Name: David Kelly

Title: Managing Director

By: _/s/ Ella Campi_______________

Name: Ella Campi

Title: Executive Director

UBS AG

By: _/s/ David Kelly______________

Name: David Kelly 

Title: Managing Director

By: _/s/ Ella Campi_______________

Name: Ella Campi

Title: Executive Director

Date: November 15, 2023