Adoboli colleague banned from industry

Fellow UBS senior trader knew about rogue trader's hidden profits

Tracey McDermott of the FCA
Tracy McDermott, FCA director of enforcement

More than a year after the conviction of UBS rogue trader Kweku Adoboli, the UK Financial Conduct Authority (FCA) has banned his fellow trader, John Hughes, from the financial industry for his involvement with Adoboli's fraud. Hughes has been banned "from performing any function in relation to any regulated activity in the financial services industry" in the UK.

Adoboli was convicted in November 2012 on two charges of fraud by abuse of position and sentenced to seven years' imprisonment, after

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here