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Swiss market controller bans 6 ex-UBS administrators, brokers

by Sunil
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GENEVA (AP) – Switzerland’s business sector administrator has banned six previous chiefs and dealers at UBS AG from working in the division for up to five years, discipline for their association in the control of coin markets.

The Swiss Financial Market Supervisory Authority said Thursday that the previous heads of worldwide remote trade exchanging and outside trade spot exchanging – who were not distinguished – were banned for four and five years individually from senior administration positions at establishments it directs.

The power additionally forced bans of no less than one year on four outside trade and valuable metals brokers who worked at UBS’s spot exchanging work area. It says none of those included still work at the bank.

UBS was one of a few worldwide banks that concurred a year ago to settlements over coin market control.

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