It is important to note that the symptoms of a rogue trader are not standalone issues
By Dave Tolladay, director of
Alerts4 Financial Markets
It’s a sequel worthy of any summer blockbuster.
Five years on from his starring role in the scandal that cost
UBS a box office-shattering £1.3 billion, Kweku Adoboli
is back! Only this time, he brings a telling message for the
City – claiming that banks need to do much more to
stop fraudulent behaviour and restore public trust.
While at first this appears to be the financial markets
equivalent of OJ Simpson advocating tighter gun controls
– it is actually hard to be too cynical about these
comments. After all, critics of financial regulation, of which
there have been many, also point towards a lack of market
expertise across the industry. Adoboli may have honourable
intentions, but the reality is that from a surveillance and
monitoring perspective, the City is a very different place to
five years ago. Significant advances in technology have driven
a major shift in behaviour during Adoboli’s time
off the scene. With this in mind, what exactly are the signs
that a bank could have the next rogue trader on its
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