The path to rogue trading
Increased controls or regulation are not the answers to rogue trading. Real incentives in all functions, comprehensive capture systems and harmonised control chains under a powerful COO, and reinforced financial training for support staff would be more effective
Many rogue-trading activities unfold according to the same mechanism: undetected unauthorised open positions, which are either fictitiously covered by fake trades, or are simply not included in the trading systems, turn bad, balloon to the point they cannot be hidden any more, leading to unacceptable losses. Tackling rogue trading must first take place in front offices, with managers being
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