"A Clear Attempt To Manipulate Fixes In The Precious Metal Market"

Just in case there is still any confusion, here is Reuters to clear things up.

Swiss regulator FINMA said on Wednesday that it found a "clear attempt" to manipulate precious metals benchmarks during its investigation into precious metals and foreign exchange trading at UBS.

 

"The behaviour patterns in precious metals were somewhat similar to the behaviour patterns in foreign exchange," FINMA director Mark Branson said in a conference call with journalists.

 

He said that as UBS has precious metals and foreign exchange desks under combined leadership, it was not surprising to find similar behaviour.

 

"But we have also seen a clear attempt to manipulate fixes in the precious metal market."

Luckily, it was only at UBS. As for Andre Flotron, who is "keen to return in due time"... don't hold your breath.

Now all those traders who lost money with UBS on the other side, will get their money back right?

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