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11 August, 12:51

This MiniCase details several ethics scandals that occurred at UBS in recent years. What does that tell you about UBS?

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  1. 11 August, 13:16
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    The bank has low ethical standards.

    Explanation:

    1. In the US Tax scandal, it was a case where the bank aided its US clients to evade Tax by not disclosing their accounts to the IRS which was against US law; a very unethical practice indeed.

    2. A rogue Trader is when a person (or corporate person) goes beyond or breaches the normal trading limits.

    It was unethical because someone representing the bank was able to conduct unauthorised trading that resulted in great losses to the bank.

    3. Libor manipulation.

    Libor meaning London Interbank Offered Rate an official rate in which international banks in London lend to reach other.

    By colluding with interdealer brokers they manipulated these lending rate inorder to make profits; which is an unethical business practices.
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