UBS Suspends Trader For 'Poor Judgment'

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Damned if you do/damned if you don't UBS, under a bit of fire for both helping clients avoid paying taxes and hurting clients who it told auction-rate securities were a sweet ass deal, has suspended David Shulman, head of U.S. fixed income. The moratorium on Shulman being allowed to come into the office probably has something to do with Attorney General Andrew Cuomo's suit against the Swiss bank concerning the perpetration of "multi-billion dollar fraud" on its clients, though there've been whispers from IT about Shulman repeatedly violating the company's rules regarding "appropriate internet usage" (talkin' 'bout porn here). UBS stated that while it "does not believe that there was illegal conduct by any employee, we have found cases of poor judgment by certain individuals and are evaluating appropriate disciplinary measures," which in this case would be three months of self-gratification without a digital aid.
UBS Suspends Top Executive [WSJ]

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