The Financial Services Authority (FSA) has fined Swiss banking giant UBS £8m for failing to stop its employees making unauthorised transactions.
The FSA said four UBS employees had carried out the transactions using customer money on at least 39 accounts.
The unauthorised activities took place between January 2006 and December 2007. The FSA also said the trades involved foreign exchange and precious metals.
Earlier this week, UBS reported a loss for the July to September quarter.
The FSA said four UBS employees had carried out the transactions using customer money on at least 39 accounts.
The unauthorised activities took place between January 2006 and December 2007. The FSA also said the trades involved foreign exchange and precious metals.
Earlier this week, UBS reported a loss for the July to September quarter.
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