Swiss banking giant UBS has been fined £29.7 million by the Financial Services Authority for failings which allowed convicted rogue trader Kweku Adoboli to lose £1.4 billion.
The FSA said procedures, management systems and internal controls at the bank's London branch were "seriously defective".
Adoboli was sentenced to seven years in prison last week after he was convicted of two counts of fraud by abuse of position.
More top news
A survey showing the number of 14-17 years olds who have tried the products has raised questions about their appeal to young people.
Advertising agency chief executive for Europe Chris Hirst takes a look at Labour's business manifesto ahead of the General Election.
A touching note from a passenger thanking a pilot for getting her home safely in the wake of the Germanwings tragedy has gone viral.