Britain's Financial Services Authority fined UBS $47.5 million on Monday for failing to prevent a $2.3 billion loss caused by former trader Kweku Adoboli. The fine was one of the largest ever levied by the British regulator. Adoboli, 32, was sentenced to seven years in prison last week for his role in the scandal. UBS was found to have had serious weaknesses in the internal controls of its investment banking unit.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- This is what happens when Republicans actually enact their radical agenda
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- How I dug myself out of debt — and stayed that way
- 6 things the happiest families all have in common
- Russia is stealthily threatening America with nuclear war
- 43 TV shows to watch in 2014
- 10 things you need to know today: September 18, 2014
- Why so many Christians won't back down on gay marriage
- The science of sex: 4 harsh truths about dating and mating
- 6 super-helpful iOS8 tricks you probably don't know about
Subscribe to the Week