UBS could 'get slammed' by FSA enforcement investigation

ubs

The UK Financial Services Authority (FSA) has today commenced a formal enforcement investigation against Swiss bank UBS in relation to the $2.3 billion losses incurred at the hands of a rogue trader, believed to be delta one trader Kweku Adoboli.

The investigation, which was announced in September 2011 just after the losses occurred, will centre on the events surrounding the trading losses at the bank. The FSA is working in close contact with the Swiss regulator Finma, which has begun its own

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