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News & Updates
September 19, 2011 UBS did not notice Adoboli's £1.3bn lossSource: BBC News
I have learned that UBS's internal controls did not pick up the massive loss allegedly generated by its trader Kweku Adoboli. The course of events was that on Wednesday Mr Adoboli disclosed to UBS that he had engaged in...
September 16, 2011 Making real changes in corporate governanceSource: Leadership online
In a world where corporate governance has, in recent years, frequently come under the spotlight for all the wrong reasons – people such as Daniel Malan and the work they do, stand out. They strive to instil an ethos of effective...
September 16, 2011 UBS Trader Gets No Miracle as Loss Leads to ArrestSource: Bloomberg
As Switzerland’s central bank imposed a limit on the franc’s appreciation against the euro on Sept. 6, UBS AG (UBSN) trader Kweku Adoboli’s Facebook profile had a plea for his friends: “Need a miracle.” Just over a week later,...
September 15, 2011 UBS Says It Had a $2 Billion Loss From Unauthorized TradingSource: Bloomberg
UBS AG, Switzerland’s biggest bank, may be unprofitable in the third quarter after a $2 billion loss from unauthorized trading at its investment bank. “UBS has discovered a loss due to unauthorized trading,” the Zurich-based...
September 13, 2011 Facebook co-founder says team had 'right kind of ethics'Source: CNN
The founding principles of business ethics at Facebook, according to co-founder Dustin Moskovitz, are as straightforward as the site's privacy settings system. Many of the early developers of Facebook have moved on to work at...
September 13, 2011 Pay scandal shakes nonprofit's boardSource: Crains New York
The board of Young Adult Institute has outlined remedial action in the aftermath of an uproar over near-$1 million pay packages for its former CEO and other top executives. With its generous compensation structure in the eye of...
September 13, 2011 CalPERS officials who received gifts may face finesSource: LA Times
Board members and officers of the long-troubled California Public Employees' Retirement System, the nation's largest pension fund, could be fined thousands of dollars for not properly reporting gifts received from investment...
September 7, 2011 .Corporate Governance Matters: Lessons for PractitionersSource: Business Ethics
Brian Tayan and I recently co-authored a book, titled Corporate Governance Matters, which takes an organizational perspective, rather than a legal perspective, on the important topic of modern corporate governance. Our purpose is...
September 2, 2011 U.S. Is Set to Sue a Dozen Big Banks Over MortgagesSource: NY Times
The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold...
Source: Business Ethics Magazine
Violations and cover-ups in college athletics investigated by the National Collegiate Athletic Association (NCAA) are beginning to rival the headlines that the Securities and Exchange Commission (SEC) receives for investigations...
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