UBS said to have suspended forex traders in Singapore, New York, Zurich
Published on Mar 27, 2014 9:27 AM
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 Mr 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.
Mr Sert and Mr 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.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!