UBS was fined £29.7 million (HK$368.87 million) by the British authorities and told by the Swiss regulator that it might have to increase capital levels for operational risks as regulators levied penalties in response to Kweku Adoboli's US$2.3 billion trading loss.Tuesday, 27 November, 2012, 4:15am
Former Societe Generale trader Jerome Kerviel handed three years in jail for his role in France’s biggest rogue-trading scandal on Wednesday and ordered to repay US$6.35 billion.24 Oct 2012 - 9:17pm
A former fund manager with Franklin Templeton Sealand Fund Management has become the latest rogue trader to be exposed by the mainland regulator as Beijing intensifies its crackdown on market irregularities.17 Jun 2011 - 12:00am
Investigators believe US$750 million (HK$5.8 billion) in currency trading losses at Allied Irish Bank's US subsidiary may have been racked up by a rogue trader's attempts to cover up his mistakes rather than steal the money.8 Feb 2002 - 12:00am
DERIVATIVES - financial instruments whose value is derived from an underlying product or market - are blamed every time someone using them gets into trouble.
They have the potential to cause big financial losses but most major disasters seem to have resulted from a combination of leverage and a lack of understanding of the risks involved.28 Jun 1995 - 12:00am
SUPERVISION of Nick Leeson's Singapore trading operation was transferred to London after Barings' Tokyo office became concerned about maintaining proper controls.
The switch took place 'many months ago', and about the same time that Leeson's profits and trading started to shoot upwards, according to a well-placed source.4 Mar 1995 - 12:00am