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MAR 28, 2014 - Yahoo! News

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UBS suspends U.S.-based forex trader in manipulation probe

By Emily Flitter and Jamie McGeever NEW YORK/LONDON (Reuters) - Swiss bank UBS AG has suspended U.S.-based veteran currency trader Michael Velardi, one of up to six traders placed on leave this week, pending ongoing international investigations into allegations of collusion and market rigging, a source familiar with the matter said on Friday. Velardi, 52, who joined Swiss Bank Corp in 1995 from Lloyds in New York, declined to comment when reached by phone. The source said up to six UBS traders, including Velardi, had been suspended this week around the world as the Swiss bank tries to stay ... Read More

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