Let's face it, it's tough at the top.
The bank is pushing the industry’s watchdog, the Financial Industry Regulatory Authority, to hear its claim that the exchange needs to fork over a lot more to make amends for Facebook’s glitch-ridden market debut last year.
'We have previously filed comment letters to the SEC in August and November 2012 condemning Nasdaq’s proposed compensation plan as inadequate and insufficient, and the SEC’s approval of the plan does not change our opinion', UBS said in a statement Monday.
In the meantime, Reuters reports that UBS has filed an application to the Singapore High Court asking that two cases be sealed involving traders fired as part of the bank's investigation into reference rate manipulation.
The request for seals underscores the highly sensitive information within the cases, which stem from a global crackdown on banks involved with submitting false reference rates for various markets to benefit trading books.
Mukesh Chhaganlal and Prashant Mirpuri are suing the bank in separate cases for wrongful dismissal, saying they were sacked in order to lessen UBS's role in the alleged manipulation of currency reference rates in Singapore.
Finally, The Wall Street Journal reports that UBS isn't the only one who's unhappy.
According to the newspaper, a Kuwaiti sheik alleges that a senior executive at Switzerland's UBS offered $20m to get the bank an advisory role on one of the biggest-ever acquisitions in the Middle East, but the bank later backed out of the deal, according to the sheik's testimony in a Dubai court case.
Sheik Meshal Jarah Al Sabah said in sworn testimony that UBS offered the commission in 2009 to derail a bid by the French media group Vivendi SA for the African telecommunications assets of Zain, Kuwait's biggest mobile-phone company, and to get UBS a lead role finding a different buyer.
UBS denies the allegations and said in a statement that it is 'vigorously defending this claim'.
Sheik Spars With UBS Over $20 Million Fee (subscriber content)
image: © Lisamarie Babik