And now the latest City scandal

The investigation into a former trader at the company was triggered after a breach of the company’s own internal controls last August.

A junior trader, who worked at the company’s investment arm, was dismissed after attempting the rogue trade, thought to have been worth about $150m and alleged to be linked to Argentine warrants.

According to a spokesman for the £60bn asset management giant, the trade was stopped and police and regulators were notified.

Internal controls thwart attempted illegal trade.

How dare the bastards show that internal self-regulation works?

3 comments on “And now the latest City scandal

  1. Am no expert on South American markets but I’d be surprised if there were a warrant market big enough to involve $150m trades.

    And as for a junior trader at Threadneedle being able to make any trade above $10m without plenty of supervision…….

  2. I am personally quivering with shock, no doubt all lefties will shortly be following my lead and wholeheartedly embracing self regulation as the solution in the face of your single data point.

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