Rogue Trader

Top of the Hour: UBS Faces Serious Consequences For Rogue Trades, Morning Headlines

The reported $2 billion loss that Swiss bank UBS has incurred due to a rogue trader who was arrested yesterday may cause the bank to suffer a large scale downgrade. The bank is readying a major restructuring to be announced later this year, which could spell the end of UBS’s investment banking business.

‘Rogue’ UBS Trader Arrested in London