02 Apr '13, 8am

UBS wins bid to seal cases of dismissed Singapore FX traders: sources

UBS wins bid to seal cases of dismissed Singapore FX traders: sources

SINGAPORE | Tue Apr 2, 2013 4:21am EDT SINGAPORE (Reuters) - The Singapore High Court has agreed to a request by UBS AG (UBSN.VX ) to seal documents in two cases brought by traders fired by the bank during its investigation into reference rate manipulation, two people with direct knowledge of the matter said. UBS argued in an affidavit last month that premature disclosures regarding the bank's investigation into the two former traders would hamper its ongoing probe, as well as a review under way globally by regulators who are looking into the manipulation of rate fixings. The two traders, Mukesh Chhaganlal and Prashant Mirpuri, are suing the Swiss bank in separate cases for wrongful dismissal, saying they were sacked in order to lessen UBS's role in the alleged manipulation of currency reference rates in Singapore. "The court has ordered the cases to be sealed," one of the...

Full article: http://www.reuters.com/article/2013/04/02/us-ubs-traders-...

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