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.
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"The council's inspector judged there was an imminent health risk and an immediate voluntary closure of the takeaway was agreed."