UBS fined €36m over rogue trader

Swiss banking giant UBS has been fined €36.3m by the UK's City watchdog for failings which allowed convicted rogue trader Kweku Adoboli to lose €1.72bn.

UBS fined €36m over rogue trader
Mon, 26 Nov, 2012 - 07:45

Swiss banking giant UBS has been fined €36.3m by the UK's City watchdog for failings which allowed convicted rogue trader Kweku Adoboli to lose €1.72bn.

The Financial Services Authority (FSA) said procedures, management systems and internal controls at the bank’s London branch were “seriously defective”.

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CourtsBusinessHeathrowPlace: UKPlace: LondonPerson: Kweku AdoboliPerson: AdoboliPerson: Tracey McDermottOrganisation: UBSOrganisation: Financial Services AuthorityOrganisation: FSAOrganisation: Global Synthetic EquitiesOrganisation: GSEOrganisation: Swiss Financial Market Supervisory AuthorityOrganisation: FINMAOrganisation: Adoboli
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