UBS rebuttal: Union Bank of Switzerland (UBS) has issued a statement that "categorically denies" allegations that its Singapore branch suffered losses due to insufficient market and credit risk management controls. The allegations appeared in the May 30 issue of The Economist.

The statement says UBS Region East Asia, which includes the Singapore branch, "is and always has been integrated into the independent centralized risk management process for all credit and market risks".

"Credit risks are

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here