UBS Scandal Traced To EU Law Loophole
The scandal at UBS from unauthorized trading stems from a loophole in the European Union’s Markets in Financial Instruments Directive, which does not cover exchange-traded funds—the instrument used for the banks’ trades.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts
