In the news

This.

How the fuck this happened, given the scrutiny being given to UBS already, beggars belief.

It's an abject failure of operations, compliance, the regulators, and oversight from business management.

I suspect that the Swiss regulators may move to have the entire bank broken up and sold.

It happens because the people at UBS who are meant to manage risk and prevent stuff like this happening, are too few in number and too busy I suspect. Time for Investment banks to be monitored by independent teams I think.

No fucking chance mind.