UBS AG was fined 29.7 million pounds ($47.6 million) by the U.K. and told by the Swiss that it may have to increase capital levels for operational risks as regulators levied penalties after Kweku Adoboli’s $2.3 billion trading loss.

The Financial Services Authority in the U.K. issued the fine today, saying the loss revealed serious weaknesses in management systems and internal controls. Finma, the Swiss regulator, said it instructed UBS to appoint an independent third party to report on the progress and completion of a program to fix these failings. The effectiveness of controls against unauthorized trading will also be checked by an auditor once the program is finished, Finma said.

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