UBS's systems and controls were seriously defective.
As a result, Adoboli, a relatively junior trader, was allowed to take vast and risky market positions, and UBS failed to manage the risks around that properly.
We know from past experience that failures to manage risk properly can cause firms to fail and cause systemic harm.
More top news
Here are the key moments that will take place on the day Article 50 is triggered and the UK begins the formal process of leaving the EU.
A man has been charged in connection with a crash which killed a four-year-old girl.
Philip, 95, used the vehicle for engagements in London allowing him to travel around the city unnoticed.