
Market volatility may have brought UBS losses to light

Recent volatility in financial markets may have helped bring the losses allegedly racked up by a rogue trader at UBS to light, risk managers speculate. The Swiss bank announced yesterday that a trader in its investment bank in London had lost approximately $2 billion through unauthorised trading, prompting the arrest of a 31-year-old employee.
"This often happens when you have periods of high volatility and traders cannot cover their positions," says Carsten Steinhoff, head of operational risk
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 [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Operational risk
Investing
Boaz Weinstein picks Ukraine bonds as a tail risk strategy
Saba Capital bought debt for as little as 20 cents on the dollar, anticipating explosive payoff
Receive this by email