• News Feeds
Page last updated at 08:19 GMT, Friday, 16 September 2011 09:19 UK

UBS 'did not notice' 1.3bn loss

Advertisement

The BBC has learned that the UBS trader being questioned on suspicion of unauthorised trading alerted the bank himself.

The BBC's business editor, Robert Peston, says UBS's internal controls did not pick up the huge loss allegedly generated by its trader Kweku Adoboli. He says Mr Adoboli told UBS that he had engaged in unauthorised trades.

Robert Peston discusses why this will add to concerns that investment banks aren't capable of controlling the huge risks that their traders take.

Get in touch with Today via email , Twitter or Facebook or text us on 84844.

SEE ALSO

Story Tools

BBC navigation

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific