Watchdog to probe UBS after 'fraud'

The London market watchdog has launched an investigation into why UBS failed to spot allegedly fraudulent trading which has cost the Swiss banking giant £1.3bn.

Watchdog to probe UBS after 'fraud'
Sat, 17 Sep, 2011 - 10:26

The London market watchdog has launched an investigation into why UBS failed to spot allegedly fraudulent trading which has cost the Swiss banking giant £1.3bn.

The Financial Services Authority and its Swiss counterpart have ordered a “comprehensive, independent investigation” into the events surrounding trading losses at the bank’s London operations.

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CourtsBusinessHeathrowPlace: LondonPlace: Clark Street, Bethnal GreenPlace: UKPlace: WroclawPlace: PolandPlace: BritainPerson: Kweku AdoboliPerson: AdoboliPerson: Louise HodgesPerson: ChancellorPerson: George OsbornePerson: OsbornePerson: John VickersOrganisation: UBSOrganisation: Financial Services AuthorityOrganisation: City of London Magistrates’ CourtOrganisation: FSAOrganisation: Swiss Financial Market Supervisory AuthorityOrganisation: Global Synthetic EquitiesOrganisation: UBS BankOrganisation: UBS Investment BankOrganisation: Independent Commission on BankingOrganisation: BritainOrganisation: ICBOrganisation: Sky NewsOrganisation: British GovernmentOrganisation: Bank of England
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