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Showing posts with label UBS raises rogue equity trade losses to $2.3 billion. Show all posts
Showing posts with label UBS raises rogue equity trade losses to $2.3 billion. Show all posts

Sunday, 18 September 2011

UBS raises rogue equity trade losses to $2.3 billion

 Swiss bank UBS on Sunday increased the amount it said it had lost on rogue equity trades to $2.3 billion and alleged a trader concealed his risky deals by creating fictitious hedging positions in internal systems. UBS stunned markets on Thursday when it announced unauthorised trades had lost it some $2 billion. London trader Kweku Adoboli was charged on Friday with...
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