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
Olympian Dawn Fraser has been accused of racism after saying tennis player Nick Kyrgios should "go back" to where his parents came from.
A wanted man asked police to use a "better photo" instead of the "horrible mugshot" they used in a Facebook appeal.
Paul Dadge become the unwitting face of the 7/7 rescue effort after a picture of him helping a woman in the aftermath went around the world.