All material subject to strictly enforced copyright laws. © 2022 Euromoney Institutional Investor PLC group

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:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree