Cantrade Investors Reject Compensation Settlement

BANKS

A group of investors suing Cantrade Private Bank Switzerland, a subsidiary of Union Bank of Switzerland, have rejected Cantrade's offer of a compensation settlement, officials say.

The civil suit against Cantrade is being brought by investors in TTS Int. SA who suffered losses as a result of the FX trading effected through Cantrade by TTS's appointed trader Robert Young and his Anagram companies, officials say. Asset management group T5 is claiming for the losses on behalf of the investors,