U.S. Charges Star Trader

 Tom Alexander William Hayes was a star trader at UBS generating almost $260 million in revenue for the Swiss bank in just over three years and helping to shape an entire trading market with his aggressive, high-value bets on yen interest rates, regulators told the WSJ..

The bank "highly valued" the 33-year-old Briton for his ability to generate huge profit, regulators said.  But that value proved illusory, as UBS on Wednesday agreed to pay a $1.5 billion settlement to U.S., U.K. and Swiss regulators for a rate-rigging conspiracy he allegedly orchestrated.

Mr. Hayes, who wasn't named in the UBS settlement documents, was the person identified as "Trader A" or "senior yen derivatives trader," said people close to the deal. U.S. prosecutors on Wednesday charged Mr. Hayes with conspiracy, wire fraud and price fixing…

Read all about it at http://online.wsj.com/article/SB10001424127887324731304578189752666144398.html?mod=WSJ_hp_LEFTWhatsNewsCollection