UBS, Willis Group Holding, Berkshire Hathaway (General Re)
Our monthly review of fraud management failure, human error and other operational hazards at financial firms around the world, distilled from the First database of operational risk loss events and case studies
UBS
In one of the largest discrimination awards to a single plaintiff, on April 6 a federal jury in New York City ordered UBS to pay an ex-employee more than $29 million in damages for alleged sex discrimination. This case follows a series of high-profile sex discrimination cases on Wall Street, involving firms such as Merrill Lynch and Morgan Stanley.
This case grew out of a sexual discrimination complaint filed by UBS institutional salesperson Laura Zubulake in August 2001. She contends that in
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