UBS suspends six more traders as forex fixing probe deepens
SWISS bank UBS has suspended another six of its traders across the world, it emerged yesterday, as it investigates allegations of misbehaviour in the foreign exchange markets.
The staff work in Singapore, Switzerland and the US, according to Bloomberg News.
Around 25 staff in investment banks around the world have been suspended or fired by their employees over the claims.
One of those is at the Bank of England, which is investigating how much its staff knew about the attempted manipulation, and whether it missed chances to uncover the market abuse.
UBS declined to comment.
On an unrelated probe, City watchdog the Financial Conduct Authority has issued two more warning notices to bank traders suspected of attempting to manipulate interest rate benchmarks.
One of the traders is accused of asking others to submit false rates, condoning others doing the same, and failing to address the flaws in the submissions system.