Wealth manager and banking group UBS will pay $25 million to settle fraud charges relating to an options trading strategy, the U.S. Securities and Exchange Commission (SEC) said Wednesday.

UBS marketed and sold the "Yield Enhancement Strategy" to about 600 investors through its platform of domestic financial advisers from February 2016 through February 2017, the SEC said, adding its order found that UBS did not provide its financial advisers with adequate training and oversight in the strategy.