Want to talk to an expert employment law solicitor?

You'll receive a callback from a specialist within an hour

A former trader at UBS has taken his ex-employers to the Employment Tribunal after he was dismissed last year for certain trades that he made.

Ramon Braga, a trader in securities on the bank’s corporate credit desk in London, submitted his complaint for unfair dismissal to the Employment Tribunal after he was fired for colluding with Denis Minayev in “re-marking” the value of credit default swaps (“CDS’s”).

Mr Braga is claiming that the dismissal was unfair as he was thrown in “at the deep end” in his role at UBS. He further alleges that he wasn’t aware of the changes that Minayev made and believed that his actions were authorised by his line manager.

UBS in return has stated that they undertook an investigation into the incident and concluded that Mr Braga’s actions constituted gross misconduct. UBS’s position is that Mr Braga was not authorised to undertake the actions that he did and that he attempted to cover up his “re-markings” by asking a broker friend to send him a quote that justified the changes that he made to the valuation of the CDS’s. While Minayev and Braga were supposed to exchange information, they were not supposed to consult each other on the pricing of the financial derivatives.

If you’ve been unfairly dismissed or think that you might have a potential claim for unfair dismissal please get in contact with one of our specialist employment lawyers.

Tagged with →  

Want to talk to an expert employment law solicitor?

You'll receive a callback from a specialist within an hour

Share →

Our awards

Request a callback

Your name

Your email

Your telephone number

Contact us

Please feel free to discuss your own position and concerns. Contact your nearest office on:

T: 020 3397 3603
E: enquiries@redmans.co.uk
W: www.redmans.co.uk

Testimonials

4.67 Average

66 Reviews

Anonymous

As with All solicitors advice without consequence but understood and communicated my legal position

Posted 6 days ago

Anonymous

Prompt, professional and excellent service.

Posted 1 week ago

Dominic C

Excellent service, prompt and helpful

Posted 2 weeks ago

Anonymous

I found Redman’s to be very efficient and got me the best deal available in the short time scale that was available.

Posted 2 weeks ago

Victor L

Very professional. Provided excellent advice on my Settlement agreement.

Posted 2 weeks ago

Anonymous

Professional from start to finish.

Posted 2 weeks ago

Oliver W

Excellent service provided by Redmans, will certainly consider using again.

Posted 2 weeks ago

Melanie H

Very professional and extremely personable service. Thank you very much.

Posted 4 weeks ago

Anonymous

I found Chris to be very approachable and easy to speak with about complex matters. He took action quickly and his updates to me, as his client, were prompt. I would recommend Chris and the team at Redmans without hesitation.

Posted 4 weeks ago

Anonymous

Good advice

Posted 4 weeks ago

Anonymous

Overall happy with the service provided by Chris and Rana.

Posted 4 weeks ago

Anonymous

Chris and Rana provide a great service, very informed, diligent and care about your result, would recommend Redmans

Posted 4 weeks ago

David W

A speedy efficient friendly service, I would definitely recommend Redmans Solicitors for processing Settlement Agreements.

Posted 4 weeks ago

Anonymous

Both Rana and Chris were fantastic. From the first phone call I was confident my matter was in good hands. I was not disappointed. I would highly recommend Redmans. Thank you again for all of your support and advice.

Posted 1 month ago

Federico S

Great advices and communication. Through Redmana I obtained match more than what I thought. Highly recommended

Posted 1 month ago

Tom G

A good and efficient service with the required legal advice provided for a settlement agreement.

Posted 1 month ago

Francis T

The solicitor I used was Chris Hadrill, who I found extremely professional and I felt that he made me feel at ease, considering the subject matter he was assisting me with.

Posted 1 month ago

Anonymous

Chris provided excellent assistance with the negotiation of my settlement agreement. From start to finish, I was consitently updated and advised on the best course of action to take. I would highly recommend Chris and Redmans Solicitors.

Posted 1 month ago

Anonymous

They are busy people but manage well so generally I would recommend them.

Posted 1 month ago

Anonymous

Very efficient and professional service from my first phone call making an enquiry. Timescales of the matter in hand were met and within the agreed budget. Would highly recommend Redmans

Posted 1 month ago

Lisa B

Really very good service, always available to answer questions, provide my with any information I needed to make informed decisions.

Posted 1 month ago