Rogue trading questions remain, says US head of op risk at Mitsubishi UFJ Securities

Lack of commonality in rogue traders adds to the risk banks face from within

neil-roth

In November 2012, Kweku Adoboli, formerly of UBS, was sentenced to seven years in prison for fraud while working as a trader at the Swiss bank.

Only two years previously, Jérôme Kerviel, who worked for Société Générale, was handed down a five-year prison sentence and ordered to repay the $6.7 billion he lost the French bank.

With such huge losses being brought to light in such quick succession, operational risk managers need to ask themselves what makes a trader go rogue and why financial

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Emerging trends in op risk

Karen Man, partner and member of the global financial institutions leadership team at Baker McKenzie, discusses emerging op risks in the wake of the Covid‑19 pandemic, a rise in cyber attacks, concerns around conduct and culture, and the complexities of…

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