UBS looking to claw back bonuses from traders

No Pot Of Gold

UBS, among the six banks fined last week for their role in the global foreign exchange scandal, is looking at clawing back bonuses from its traders.

Reuters reports that a UBS spokeswoman confirmed a Financial Times report, which said UBS and four other banks were preparing to take back millions of dollars in bonuses from traders.

Regulators on Wednesday fined six major banks a total of $4.3bn for failing to stop traders from trying to manipulate the foreign exchange market, following a year-long global investigation.

To access the complete Reuters article hit the link below:

UBS looking to take back bonuses from forex traders

Spotlight falls on Europe's stuttering economy

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts