UBS Slapped With $47.5M Rogue Trader Fine

Defective controls led to $2.3B loss, UK regulators say

By Rob Quinn,  Newser Staff

Posted Nov 26, 2012 12:56 AM CST

(Newser) – UBS has been fined $47.5 million for being sloppy enough to let a rogue trader lose $2.3 billion, the New York Times reports. British regulators fined the Swiss banking giant after concluding that the bank's "seriously defective" systems and controls allowed...   Read full story »


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