Saturday, July 12, 2014





UK regulator fines UBS in rogue trader case


February 19. 2013 7:08PM
Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle


(AP) Britain's financial regulator has fined Swiss bank UBS AG for failings which allowed a rogue trader to lose $2.3 billion.


The Financial Services Authority says Monday that it is fining the bank 29.7 million pounds ($47.6 million).


Former UBS trader Kweku Adoboli was sentenced to seven years in prison last week after being convicted of two counts of fraud.


The regulator says the case revealed serious weaknesses in the firm's procedures, management systems and internal controls.


Associated Press


Comments
comments powered by Disqus Commenting Guidelines
Poll
Mortgage Minute


Search for New & Used Cars

Make 
Model
 
Used New All
 

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals



Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds