On Air Now

Listen

Listen Live Now » 93.7 FM Sheboygan, WI

Weather

Current Conditions(Sheboygan,WI 53081)

More Weather »
66° Feels Like: 66°
Wind: ESE 6 mph Past 24 hrs - Precip: 0.06”
Current Radar for Zip

Tonight

Partly Cloudy 62°

Tomorrow

Partly Cloudy 73°

Mon Night

Partly Cloudy 66°

Alerts

UBS clamps down on online chat use: memo

The logo of Swiss bank UBS is seen at a branch office in Zurich October 29, 2013. REUTERS/Arnd Wiegmann
The logo of Swiss bank UBS is seen at a branch office in Zurich October 29, 2013. REUTERS/Arnd Wiegmann

(Reuters) - Swiss bank UBS AG is the latest multinational bank to curb the use of electronic chat rooms at its workplace, according to a memo seen by Reuters on Wednesday.

Earlier this month Reuters reported that JPMorgan Chase , Credit Suisse Group and Citigroup Inc , among others, were reviewing chat room use over concerns that regulators view some of the forums as potential venues for collusion and market manipulation.

The memo states UBS prohibits the use of social chat rooms. The memo also states that all chat facilities must have an assigned managing director-level UBS 'owner', who is permanently on the chat moderating and is responsible for the membership, content and behavior in the room.‬

A London-based spokesman for the bank confirmed the memo's content.

(Reporting by Karen Rebelo in Bangalore; Editing by Leslie Gevirtz)

Comments