CITY VIEWS: ARE YOU SURPRISED THAT A ROGUE TRADER CAN OPERATE AFTER THE FINANCIAL CRISIS?
PETER GODFREY | JRP UNDERWRITING
“I would expect a large company to have an almost foolproof system these days. I think today’s news from UBS is unbelievable – $2bn is a staggering sum of money.”
PAUL SMITH | INCEPTA
“No. Rogue traders are entrepreneurial by nature, they are selfish thinkers, and they look to get around rules and regulations. UBS should be able to prevent it, though.”
PHILIP ATKIN | CNS
“No, security can always be gotten around if the controls are not strict enough. I’m quite surprised that a big company like UBS wasn’t able to prevent it.”
* These views are those of the individuals above and not necessarily those of their company.