The FSA and the Swiss Financial Market Supervisory Authority (FINMA) are launching an independent investigation into the events surrounding the huge trading losses incurred by UBS, allegedly as a result of the actions of 'rogue trader' Kweku Adoboli....
City of London police have charged UBS trader Kweku Adoboli with fraud in relation to the $2bn loss at the bank.
The revelation of rogue trading at UBS follows a period of market volatility. That is nothing new, say risk managers.
Ratings agencies S&P and Moody's have placed UBS' Aa3 rating on review for downgrade following its $2bn unauthorised trading loss.
UBS has said it has discovered a loss in the region of $2bn as a result of rogue trading in its investment banking division.
UBS Global Asset Management has announced multiple hires to boost its fixed income and global offerings.
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