UBS Bond Traders Depart Amid Treasury Securities Probe

Law360, New York (November 3, 2006, 12:00 AM EST) -- As Swiss bank UBS AG faces scrutiny by federal regulators over alleged improper manipulation of Treasury securities prices, two senior bond traders are set to leave the company’s trading desk.

The news came on the heels of the company’s announcement on Monday that it is cooperating with an investigation by the U.S. Securities and Exchange Commission into whether it was involved in improper manipulation of Treasury securities prices, without giving any further details of the probe.

The two traders—who were based in a Stamford, Conn. office...
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