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Home | UBS fined £29.7m over Adoboli fraud case |
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UBS fined £29.7m over Adoboli fraud case
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- November 25, 2012
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The Financial Services Authority (FSA) has fined UBS £29.7 million for systems and controls failings that allowed its ex-trader, Kweku Adoboli, to cause losses totalling $2.3 billion as a result of unauthorised trading. Between June and September 2011, Mr Adoboli incurred losses primarily on exchange traded index future positions – the underlying positions were disguised [...]
- Read more at:http://www.bankingtimes.co.uk/2012/11/26/ubs-fined-29-7m-over-adoboli-fraud-case/
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