UBS said a rogue trader, Kweku Adoboli, racked up about $2 billion in losses related to unauthorized derivatives trades. Adoboli, a director on UBS' "Delta One" derivatives desk, has been arrested in a case that raises questions about banks' ability to manage risk and regulators' ability to supervise it. UBS suspended several other members of the derivatives desk as executives try to determine whether anyone else was involved.

Related Summaries