Seven UBS traders may be first to face sanctions in rigging scandal

Geneva

AS many as seven UBS Group AG traders may face sanctions from Switzerland's financial watchdog in the coming weeks - potentially the first individuals to be punished in the global currency-rigging scandal, said two people with knowledge of the situation.

The Swiss Financial Market Supervisory Authority (Finma) is planning to notify the traders of any penalties by the end of the year, said the people, who asked not to be identified because the probe is ongoing. The stiffest penalty Finma can impose against an individual is a five-year ban from the Swiss financial services industry.