NatWest Reviews Controls In Wake Of Papouis Report
AS RMO went to press, NatWest Markets announced the results of an independent investigation into the £77 million interest rate options trading loss caused by former bank trader Kyriacos Papouis.
The independent investigation was jointly conducted by Linklaters & Paines and Coopers & Lybrand. It concludes that Papouis deliberately concealed the £77 million loss by mispricing his options books over a two-year period.
The report adds that Papouis's concealment was made possible by operational
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