2008 Société Générale trading loss the bank. Kerviel joined the middle offices in the bank Société Générale in the summer of 2000, working in its compliance department. In 2005 he was promoted to the bank's Delta One products team in Paris where he was a junior trader. Société Générale’s Delta One business includes program trading, exchange-traded funds (ETFs), swaps, index and quantitative trading. Bank officials claim that throughout 2007, Kerviel had been trading profitably in anticipation of falling market prices; however, they have accused him of exceeding his authority to engage in unauthorized trades totaling as much as €49.9 billion, a figure far higher than
2011 UBS rogue trader scandal jobs. In mid-November 2011 UBS announced that it would cut back half of the risk-weighted assets in its investment bank over the next five years to reduce risk exposure in the wake of the trading scandal. In June 2012 UBS announced that their ongoing investigation has resolved the weaknesses that made this unauthorized trading possible. Along with their auditors, Ernst & Young Ltd., UBS aim to confirm this with internal control of financial reporting in December 2012. On 26 November 2012, the United Kingdom's financial regulator fined UBS £29.7 million ($47.6 million) for system and control failings that allowed Kweku