Lunchtime Links: Sad, shamed banker who sent an email which lost $10m in fees, has been sacked

Having made an investment banking loss last quarter, UBS could do with a little extra revenue. Imagine the ignominy, therefore, of being responsible for losing it $10m fees.

Bloomberg reports that this misfortune befell one US UBS investment banker who sent an email divulging details of the share sale to the banks' clients. He has now been terminated.

Robert Jones, head of quant investing at Goldman Sachs, is stepping down (FinAlternatives)

Massive loopholes make the Volcker Rule meaningless (Economics of Contempt)

Banks can't do 'prop trading' but they can do 'principal investments' ( Financial Times)

FSA says 'relevant communications' on mobile phones must be made and stored for six months (Bloomberg)

RBS is entering the Chinese securities market (Banking Times)

Profits up 37% at Euromoney (Evening Standard)

One of the key lessons we've learned in this crisis is that any time a small country takes pride in its large and profitable international banks, everything is liable to end in tears. (Felix Salmon)

Ireland's property crash has resulted in losses across the six main lenders of €85bn or 55 per cent of gross domestic product. (Financial Times)

Standard Chartered and RBS warn David Cameron that business might move abroad (Telegraph)

Foreign banks will be obliged to disclose their pay rules, like EU banks (Telegraph)