Corporate Social Responsibility
In January 2010, UBS issued a new code of conduct and business ethics which all employees were asked to sign. The code addressed issues such as financial crime, competition, confidentiality, as well as human rights and environmental issues. The eight-page code also lays out potential sanctions against employees who violate it, including warnings, demotions or dismissal. According to Kaspar Villiger, Chairman of the Board, and Oswald J. Grübel, former Group CEO, the code is "an integral part of changing the way UBS conducts business".
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