The Financial Conduct Authority has banned a former UBS trader from regulated financial services due to failings associated with the rogue trader Kweku Mawuli Adoboli.
John Christopher Hughes was the most senior trader on the exchange-traded funds (ETF) desk during the period Adoboli made unauthorised trades using a secret fund known as the ‘Umbrella’. In total, Adoboli lost $2.3bn. The FCA said: “Hughes...
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