UBS today announced the launch of algorithmic trading for international clients trading equities on Bolsa Mexicana de Valores in Mexico.
Kweku Adoboli, the UBS trader who is accused of racking up losses of $2.3 billion through unathorised trading activity at the Swiss bank, has pleaded not guilty to charges of fraud and false accounting at a court hearing in London.
The Securities and Exchange Commission today charged an investment advisory arm of UBS with failing to properly price securities in three mutual funds that it managed, resulting in a misstatement to investors of the net asset values (NAVs) of those funds. The misconduct was revealed during the course of an SEC examination, minimizing investor harm.
Citi has been ordered to overhaul its risk management systems by Japan's Financial Services Agency, which has sanctioned the US bank for the way it has tried to sell investment products to retail customers.
UBS AG has acquired an equity stake in Chi-X Global Holdings LLC and will join the consortium of five financial institutions that recently bought a minority stake in the firm, Chi-X Global announced today.
In the wake of its $2.3 billion trading scandal, Swiss bank UBS has replaced chief risk officer Maureen Miskovic after less than a year in the job.
The Financial Industry Regulatory Authority (Finra) has fined UBS Securities $12 million for failing to properly supervise short sales of securities.
In the wake of its recent $2.3 billion loss through unauthorised trading, Swiss bank UBS has admitted that internal controls were "not effective".
Risk systems did pick up suspect activity at UBS related to the recent loss of $2.3 billion through unauthorised trading but the information was not properly acted on, according to an internal investigation. Meanwhile, the bank's co-heads of global equities have resigned over the scandal.
The International Securities Exchange (ISE) today announced that UBS has launched the ETRACS Monthly 2xLeveraged ISE Cloud Computing Total Return Index ETN (Ticker: LSKY).
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