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 responses so far ↓
1 Shinsei67 // Feb 22, 2012 at 10:51 am
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 PaulB // Feb 22, 2012 at 11:20 am
I speculate that the trade would involve the Argentinian GDP warrants issued as part of the debt restructuring in 2005.
3 Andreas Paterson // Feb 22, 2012 at 1:01 pm
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.
Leave a Comment