Post-SG policing
Banks are looking for radical new solutions to prevent rogue trading following the huge losses at Societe Generale
In the days after Societe Generale (SG) dropped its EUR4.9 billion rogue trading bombshell, operational risk managers across the industry all had to answer the same question, posed by senior executives and board risk committees: what are we doing to stop the same thing happening here? In most cases, the answer they were forced to give was not reassuring, says Bruno Piers de Raveschoot, managing director for Europe with Actimize in London. "Many banks either are unclear of the level of protection
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