UBShas suspended two traders in Singapore in the course of an internal investigation into the Swiss bank’s role in the possible manipulation of interbank lending rates.
The two traders worked for the bank’s fixed income division, and were suspended less than two months ago, according to a person familiar with the situation. UBS declined to comment on the suspensions, which were first reported by Reuters.
The Swiss bank’s move represents another twist in the widening fallout from the Libor scandal, which came into the spotlight earlier this year when Barclayswas fined more than $450m by US and UK authorities for attempting to manipulate the London benchmark rate.
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