On 16 October 2015, the Financial Conduct Authority (FCA) released a Final Notice prohibiting Kweku Adoboli, a former UBS trader, from carrying out any regulated activity.

Mr Adoboli made headlines, and was subsequently convicted of two counts of fraud and jailed, when it emerged that his unauthorised trading activities had caused losses of $2.25 billion to his employer.

In deciding that Mr Adoboli is not a “fit and proper person”,  the FCA stated that he had demonstrated a “serious lack of honesty, integrity and reputation”.