Ban on traders upheld
Tuesday 22 May 2012
The Financial Services Authority's decision to fine and ban two former UBS advisers has been upheld by a higher tribunal.
The City regulator is fining Sachin Karpe £1.25m and Laila Karan £75,000, after finding that Mr Karpe – who was at UBS international wealth management business in London – carried out substantial unauthorised trading, mostly in foreign exchange instruments. Mr Karan – who reported to Mr Karpe – was aware of the unauthorised trading, the FSA said.
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