FSA: FSA Statement relating to commencement of Enforcement action against UBS AG
February 10, 2012
On September 16, 2011 the FSA and the Swiss Financial Market Supervisory Authority ("FINMA") announced the launch of an independent investigation into the events surrounding trading losses incurred by UBS in the London operations of its Investment Bank.
The FSA has now commenced a formal enforcement investigation against UBS and is in close contact with FINMA which has also commenced enforcement action against UBS.
Cross References: Press release from FINMA (Swiss Financial Market Supervisory Authority).