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UBS to call off bonuses for forex investors

  • UBS was fined this week as it made an attempt to manipulate foreign exchange markets, media reports stated. On Saturday, the bank said that it has decided to take back bonuses from traders over the scandal. A spokesperson also mentioned that the bank is all set to call off the payment of deferred bonuses in cases where malpractices were found. Royal Bank of Scotland, which is another of the fined bank, has said that it may too take action.