Articles - UBS trading losses: FSA and FINMA to launch investigation


 The Financial Services Authority (FSA) and the Swiss Financial Market Supervisory Authority (FINMA) are launching a comprehensive independent investigation into the events surrounding the trading losses incurred by UBS AG in its London operations.
 The investigation, to be conducted by a third party firm independent of UBS, will focus:
     
  •   on the details of the unauthorised trading activity;
  •  
  •   on the control failures which permitted the activity to remain undetected; and
  •  
  •   will include an assessment of the overall strength of UBS's controls to prevent unauthorised or fraudulent trading activity in its Investment Bank.
 At the moment no indication can be given with regard to the duration of that investigation.
  

Back to Index


Similar News to this Story

Investment opportunities for DC schemes set to expand
The Department for Work and Pensions (DWP) launched a wide-ranging consultation on facilitating investment by defined contribution (DC) pension scheme
The real risks of freedoms
When pension freedoms first came into play there was no doubt that while they offered welcome flexibility, they also resulted in more risks that could
Skilled actuaries required
Since the upheaval of pension freedoms in 2015 when drawdown rules were relaxed and annuity sales declined, the role of actuaries in the DC space has

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.