UBS’s $1.5 billion settlement for manipulating interbank lending rates is the fourth separate regulatory finding against the Swiss group in as many years – underlining the failure of bank executives to reform the corporate culture…Just last month, a London jury convicted one of UBS’s former traders, Kweku Adoboli, of the biggest banking fraud in British history after he lost $2.3 billion in rogue trades. The FSA also fined the bank 29.7 million pounds ($39.2 million) for allowing the unauthorized trades. The trading loss is now seen among UBS staff as the new benchmark of wrongdoing, with reports of relief among employees that the bank’s $1.5 billion global Libor settlement was “only half an Adoboli.” [FT]
- 27 Nov 2013 at 1:30 PM
The holiday season is nigh and you still haven’t shopped. While you’re dreaming only of sugar plum fairies bearing fat bonuses, you don’t the time to mingle with the riff raff at some big box nightmare. Dealbreaker is here to help. Behold the 2013 Dealbreaker Holiday Gift Guide, chockfull of descriptors like “custom,” “gourmet,” “housecleaning,” and “DB swag.”
Click through to check out all of our gift choices for the hardcore capitalist in your life.
- Losing Anything < $2 Billion, Whether Through Trading Or Regulatory Fines, Now Considered A Victory At UBS December 21, 2012
- Credit Suisse Employee Moonlights As Breakdancing National Champion December 6, 2013
- Don't Want To Get On Compliance's Watch List? Consider Not Going On Endlessly About How Ravenous You Are Or How They're Expecting You At Chipotle; One "God Damn It I'm Starving" Or "Need Burrito In Mouth, Stat" Should Suffice December 6, 2013
- Using Yiddish Word For Screwing Only One Of The Many Colorful Ways That Bernie Madoff Made Clear He Was Up To No Good December 6, 2013
- Who Among Us Wouldn't Listen To A Guy Pitch An Investment Involving "Pay-Per-View Programming Starring Carmen Electra" And Proceed To Wire Him $195,000? December 5, 2013
- The 2013 Dealbreaker Holiday Gift Guide November 27, 2013
- Charlie Gasparino's Gut Tells Him Trouble Is Brewing At Goldman Sachs, Though In Fairness That Could Just Be Last Night's Chinese December 6, 2013
- Tommy Belesis Will Have To Wait At Least 1 Year Before Threatening To Hit Another Broker With His Car December 5, 2013
- Cliff Asness Has A Lot Of Problems With You People December 3, 2013
- Christmas Come Early For John Paulson December 6, 2013
- Executive Editor
- Bess Levin
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