Who Protects Our Money from Rogue Trading

Swiss bank UBS has now begun an internal investigation¹ into the failure of its risk systems.

This follows revelations that a rogue² equities³ trader has cost the company some 2.3 billion US dollars.

UBS says David Sidwell, the former chief financial officer of Morgan Stanley, is now carrying out an independent investigation into the trades and the bank's control systems.

The bank says it expects the investigation should be finished in a matter of weeks.

The alleged⁴ rogue trader, Kweku Adoboli is said to have carried out vast numbers of small, unauthorized transactions over the course of several months, ultimately leading to the huge loss.

Analysts⁵ say one reason that UBS failed to identify the unauthorized deals until last week is that Adoboli is well versed⁶ in the bank's inner workings.

For more on this situation, we're joined by Mark Hughes, executive business editor of China Daily.

1 investigation   

n.调查，调查研究

参考例句：

• In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
• He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

2 rogue   

n.流氓；v.游手好闲

参考例句：

• The little rogue had his grandpa's glasses on.这淘气鬼带上了他祖父的眼镜。
• They defined him as a rogue.他们确定他为骗子。

3 equities   

普通股，股票

参考例句：

• These are invested mainly in the OECD bonds and equities. 这些资产主要投资于经济合作及发展组织的债券与股票市场。
• They are also advantage of the global rebound in equities. 它们还在利用全球股市反弹的机会。

4 alleged   

a.被指控的，嫌疑的

参考例句：

• It was alleged that he had taken bribes while in office. 他被指称在任时收受贿赂。
• alleged irregularities in the election campaign 被指称竞选运动中的不正当行为

5 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

6 versed   

adj. 精通，熟练

参考例句：

• He is well versed in history.他精通历史。
• He versed himself in European literature. 他精通欧洲文学。