rogue trader

UBS was under pressure Friday to explain how its managers failed to catch a $2 billion loss due to rogue trading, with experts calling into question the Swiss bank's ability to turn around its scandal-hit image. As police in London obtained a 12-hour extension to question the trader, 31-year-old...

Every few years, a banker acting on his own begins to make trades not authorized by his firm. He risks his company's assets in the hopes of making a killing and probably a huge bonus. These traders usually end up losing large sums and being fired then investigated by the local financial...