linkedin

Rutherford Blog

Jonathan Skerrett
about 6 years ago by Jonathan Skerrett
Ubs Gradient

​Switzerland’s biggest bank UBS said it had expanded the number of employees that are subject to internal background checks to around 15 percent of its workforce in a move that came in the wake of numerous scandals.

Under the new policy, roughly 9,000 employees of the Zurich-based bank will be subject to internal vetting, a spokesman for UBS told Reuters, confirming a report on Monday by Swiss finance website, Inside Paradeplatz.

UBS is beefing up policing of its employees as it grapples with a probe into potential rigging of the global foreign exchange market, including by the Securities and Exchange Commission, U.S. justice officials, and Britain’s Financial Conduct Authority.