UBS Hit With Forex Rigging Suit In UK

By Lucia Osborne-Crowley (November 3, 2021, 5:45 PM GMT) -- A U.K. currency investment firm is suing UBS, accusing it of misusing trade secrets and manipulating foreign exchange markets to earn secret profits, after a similar suit against HSBC was recently tossed out for being filed too late.

The ECU Group PLC accused UBS AG in a lawsuit, filed in the High Court on Sept. 28 and now made public, of rigging the forex market ahead of placing the currency firm's orders in order to maximize its own profits. The suit accuses UBS traders of placing their own transactions before executing its orders, an illegal practice known as front-running.

The lawsuit...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!