UK Financial Services Authority Fines UBS Over Rogue Trader

By  |  November 26, 2012
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UBS has been fined £29.7 million (discounted from £42.4 million for early settlement) by the UK’s Financial Services Authority (FSA) for failing to prevent unauthorized trading by one of its employees. The trader, Kweku Adoboli, has been convicted of two counts of fraud by abuse of position and sentenced to seven years’ imprisonment.

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