Judge urges U.S to pursue traders


A federal judge urged U.S. authorities to pursue prosecutions against individuals as part of their investigation into the manipulation of currency markets as he accepted penalties against four of the world’s largest banks.

Ex-UBS trader banned for currency rigging

The U.S. Federal Reserve banned former UBS trader Matthew Gardiner from the banking industry for life for rigging currency benchmarks, the first U.S. penalty against an individual in the three-year investigation.

UBS could be in a spot of bother

Statue Of Liberty

The U.S. Justice Department is set to rip up its agreement not to prosecute UBS for rigging benchmark interest rates, according to a person familiar with the matter, taking a new step to hold banks accountable for repeat offences.