UBS said to suspend FX traders in New York, Zurich, and Singapore

Section:

By Liam Vaughan, Ambereen Choudhury, and Gavin Finch
Bloomberg News
Wednesday, March 26, 2014

LONDON -- UBS suspended foreign-exchange traders in the United States, Singapore, and Switzerland as its investigation into the alleged rigging of currency markets widened, according to a person with knowledge of the matter.

They include Onur Sert, an emerging-markets spot trader based in New York, and at least three more worldwide, said the person, who asked not to be identified because of the probe. Sert and Dominik von Arx, a spokesman for UBS in London, both declined to comment on the suspensions.

Switzerland’s largest bank opened a review of its currency operations last year after Bloomberg News reported in June that traders in the industry had colluded to rig the WM/Reuters rates, a benchmark used by investors and companies around the world. ...

... For the full story:

http://www.bloomberg.com/news/2014-03-26/ubs-said-to-suspend-fx-traders-...



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