The trial of a former UBS trader has heard how the Swiss bank previously warned the accused for exceeding trading limits.
Kweku Adoboli was initially reprimanded by his line manager in December 2010 following complaints by his colleague, John Hughes, that he had breached daily limits.
Despite being "told off", Adoboli continued to take risks. At one point it is reported he risked losing £7.4 billion, although he claims his risk-taking was supported by his managers.
Adoboli has pleaded not guilty to the charges of false accounting and fraud between October 2008 and September 2011.
The former trader's actions resulted in a loss of £1.4 billion for the bank, threatening its existence and reducing its share price by £2.8 billion.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.