‘Compliance failure’ blamed for AIB debacle

rusnak-jpg
Allied Irish Banks’ (AIB) announcement that the losses incurred by John Rusnak date back to 1997 reinforced foreign exchange traders’ belief that a compliance failure is responsible for the firm’s trading losses. Traders strongly defended their market practices, saying the fault lay with AIB systems and procedures, an opinion also held by several risk management software vendors that unsuccessfully pitched Allfirst their wares within the last few years.

Rusnak, a former forex trader at Allfirst

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here