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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 Elisa Martinuzzi and Tommaso Ebhardt |
December 1, 2012
Bank of America Corp. and UBS AG reached agreements with the Italian region of Lombardy to settle a dispute involving derivatives.
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By Philip McBride Johnson |
November 29, 2012
They call it a "civil monetary penalty" or a "fine," but those terms seem hollow when a financial firm itself is whacked for millions of dollars by regulators ... Who does this hurt? Management does not pay
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By Lindsay Fortado and Jeremy Hodges, Bloomberg |
November 20, 2012
Former UBS AG trader Kweku Adoboli was found guilty of fraud in relation to a $2.3 billion loss, the largest from unauthorized trading in British history. He was cleared on four counts of false accounting.
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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 Mary Childs, Bloomberg |
November 7, 2012
Wall Street’s credit-derivatives traders, who before the financial crisis commanded $2 million of annual pay, are being replaced by machines as banks cut costs and heed new regulations.
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By Maria Kolesnikova and Chanyaporn Chanjaroen, Bloomberg |
October 31, 2012
UBS AG plans to close its oil, base metals and agriculture trading desks as Switzerland’s biggest lender shrinks its investment bank.
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By Elena Logutenkova and Bradley Keoun, Bloomberg |
October 29, 2012
UBS AG’s decision to cut as many as 10,000 jobs and retreat from capital-intensive trading businesses will help position Switzerland’s largest bank to return more funds to shareholders.
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By Lindsay Fortado |
October 23, 2012
Kweku Adoboli, the former UBS AG trader accused of causing a $2.3 billion loss, was sent e-mails alerting him to the conduct of Jerome Kerviel at Societe Generale SA.
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By Erik Larson and Lindsay Fortado |
October 16, 2012
According to criminal trial testimony, UBS AG fixed a loophole that former trader Kweku Adoboli allegedly used to conceal unauthorized transactions by giving them long-term settlement dates.
