Ronald Greenidge, the former UBS AG managing director fired for gross misconduct in his supervision of convicted trader Kweku Adoboli, sued the bank claiming it treated him more harshly than others because he's black.
UBS AG was fined 29.7 million pounds ($47.6 million) by the U.K. and told by the Swiss that it may have to increase capital levels for operational risks as regulators levied penalties after Kweku Adoboli's $2.3 billion trading loss.
UBS will pay $1 billion to settle allegations that it manipulated Libor, according to the Financial Times and other publications. The news about UBS’ settlement will likely be made public on Monday.