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A London-based exchange-traded-fund trader has been arrested in connection with the incident
Swiss-bank UBS has incurred a loss due to unauthorised trading in its investment bank with media reports pointing to the losses originating from the Delta 1 desk.
On September 15, 2011 UBS announced that it had discovered unauthorised trading in its investment bank. This trading was conducted by a trader in its global synthetic equity business in London. The Financial Times reported that Kweku Adoboli, a 31-year old trader,...