[black_puppydog]

I agree that this is more than a slap on the wrist, but I doubt that it's more effective as a deterrent than jailing the individuals involved. From what I understand, the banking industry is built almost entirely on a Rand'ian "every man for himself" ethos, with little attachment to the company involved. I don't see how you can then hope to incentivize these individuals by fining the company. Except if the suits were quick enough that most of them were still at UBS, to feel the consequences. But that's not desirable either.

[Vinnl]

I wonder if that's the case. I think the source of the problem is people prioritising the short term over the long term, and I'm not sure whether potential jail time in the long run will deter you when your direct environment is pushing you another way.

Instead, if the company risks fines like these, the environment of its employees may start to emphasise derisking more, to prevent them from being hit with new fines.

Of course, this is all just me looking into my crystal ball.