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

Can GenAI solve the pension IHT problem
There’s a big change coming to defined contribution pensions in April 2027, when the current inheritance tax exemptions fall away. The changes potenti
Models underestimating climate signal from winter rainfall
Discover four ways U.K. winter storms are changing, what’s driving the shift, and how re/insurers can respond. The winter of 2023/24 was one of the we
Why HR leaders must rethink workforce design in the AI age
As artificial intelligence becomes embedded across UK organisations, its impact on workforce structures is already being felt. Research from Barnett W

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.