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By Lindsay Fortado, Bloomberg |
December 3, 2012
UBS AG, Switzerland’s biggest lender, is close to agreements with U.S. and U.K. regulators to pay more than 290 million pounds ($466 million) in fines over allegations traders tried to rig global interest rates.
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By Lindsay Fortado, Bloomberg |
November 9, 2012
U.K. prosecutors are poised to arrest former traders and rate setters at UBS AG, Royal Bank of Scotland Group Plc and Barclays Plc within a month for questioning over their role in the Libor scandal.
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By Lindsay Fortado, Bloomberg |
October 15, 2012
Tom Naratil, chief financial officer of UBS AG, said the Swiss bank fired as many as 550 employees after it suffered a $2.3 billion loss from unauthorized trading last year.
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By Lindsay Fortado, Bloomberg |
October 9, 2012
Kweku Adoboli booked tens of thousands of real and fake trades during the summer of 2011 that exposed UBS AG to losses that may have escalated to $12 billion within weeks, a bank executive told a London court.
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By Lindsay Fortado, Bloomberg |
September 17, 2012
Kweku Adoboli, the former trader on trial for allegedly costing UBS AG $2.3 billion from unauthorized trades, was in debt and had several spread-betting accounts in violation of the bank’s rules.
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By Lindsay Fortado, Bloomberg |
July 6, 2012
The U.K. Serious Fraud Office is opening a criminal investigation into the attempted manipulation of interbank offered rates that led to Barclays Plc getting a record fine.
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By Lindsay Fortado, Bloomberg |
June 8, 2012
Kweku Adoboli, the former UBS AG trader who allegedly caused a $2.3 billion loss from unauthorized trading, will be freed on bail while he awaits trial in London, his lawyer said following a court hearing.
