<p>Highly regulated financial firm UBS is in the midst of a corporate quagmire as it looks to increase engagement among employees on its internal social collaboration platform Jive.</p><p>The Swiss company, which employs 62,000 people around the world, initially implemented Jive's social collaboration software in a private cloud setup in 2010. However, following a scandal in 2011 in which a rogue trader lost the firm over $2bn, the system was shut down. The shutdown was not related to Jive, but rather a cultural shift that resulted in a significant increase in accountability and greater regulatory requirements, according to UBS's global head of online media IT Peter Barnes.</p><p>"The lawyers felt we didn't have enough control on what employees could or couldn't comment on," he explained at an event attended by V3. "I then had the joyous task of putting millions of controls in so the lawyers were happy that we weren't going to get sued and that everyone felt they knew what the rules of the game were."</p><p>"There were concerns about where data is stored," he explained. "There were concerns about if you do something not in the terms of use of a social system, what's the sanction you're going to get?"</p><p><a href="http://www.v3.co.uk/v3-uk/news/2298558/ubs-navigates-regulatory-minefield-with-jive-use-for-social-collaboration">Keep reading...</a></p>