UBS discloses it is reviewing its precious metals business

Section:

By Chad Gray and Neil Gough
The New York Times
Friday, March 14, 2014

LONDON -- The Swiss bank UBS said on Friday that it was conducting an internal review of its precious metals business amid expanding regulatory investigations into potential manipulation of interest rates and the price of commodities and currencies.

In its annual report released on Friday, UBS said that it had been conducting a review of its foreign exchange operations, including its precious metals business. The bank said it was cooperating with regulators, noting in its review that "a number of authorities also are reportedly investigating potential manipulation of precious metal prices."

Also on Friday, Hong Kong's banking regulator found that traders at UBS tried to rig the Hong Kong Interbank Offered Rate over a four-year period but ultimately had no impact on how the local benchmark interest rate was set. As a result, the regulator did not fine the bank. ...

... For the full story:

http://dealbook.nytimes.com/2014/03/14/ubs-discloses-it-is-reviewing-its...



ADVERTISEMENT

Safe and Private Allocated Bullion Storage In Singapore

Given the increasing risks in financial markets, it is more important than ever to own physical bullion coins and bars and to store them in the safest vaults in the world in the safest jurisdictions in the world. Gold advocates Jim Sinclair and Marc Faber have recommended Singapore.

Now, with GoldCore, you can own coins and bars in fully insured, segregated, and allocated accounts in Singapore with the ability to take delivery. Learn more by downloading GoldCore's Essential Guide To Storing Gold In Singapore:

http://info.goldcore.com/essential-guide-to-storing-gold-in-singapore

And for more information call Daniel or Sharon at +44 203 0869200 in the United Kingdom or at +1 302 635 1160 in the United States. Or email them at info@goldcore.com.



Join GATA here:

Mines and Money Hong Kong
Hong Kong Convention and Exhibition Centre
Monday-Friday, March 24-28, 2014
Hong Kong Special Administrative Region, China

http://www.minesandmoney.com/hongkong/

Porter Stansberry Natural Resources Conference
AT&T Performing Arts Center
Margot and Bill Winspear Opera House
2403 Flora St., Dallas, Texas
Saturday, May 31, 2014

http://stansberrydallas.com/

Canadian Investor Conference 2014
Vancouver Convention Centre West
1055 Canada Place, Vancouver, British Columbia
Sunday and Monday, June 1 and 2, 2014

http://cambridgehouse.com/event/25/canadian-investor-conference-2014-inc...

* * *

Support GATA by purchasing DVDs of our London conference in August 2011 or our Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16