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

Actuarial Post Magazine Awards Winners Edition December 2024
Welcome to the Actuarial Post Awards 2024 winner’s edition and we hope you enjoy reading about their responses on having won their award. The awards
Guide to setting expense reserves under the new Funding Code
The new defined benefit (DB) funding code of practice (new Funding Code) requires all schemes to achieve funding levels that ensure low dependency on
Smooth(ing) Operator
Private equity can be a great asset. It’s generally the most significant way to have any real world impact as an investor (eg infrastructure assets li

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.