UBS has discovered a 2 billion loss due to unauthorized trading by a trader |
Autor: Bancherul.ro
2011-09-15 11:53 |
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UBS has discovered a loss due to unauthorized trading by a trader in its Investment Bank, said the bank in a press release.
The matter is still being investigated, but UBS's current estimate of the loss on the trades is in the range of USD 2 billion. It is possible that this could lead UBS to report a loss for the third quarter of 2011. No client positions were affected.
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