NAB "collusive broker" speculation grows

PricewaterhouseCoopers and the Australian Prudential Regulation Authority (Apra) both referred to evidence of collusion from un-named third parties used to source revaluation rates for NAB’s four FX options traders, who were sacked in March for illegal trading. The traders’ mounting losses were hidden from the bank’s risk management systems by false trades and false revaluations.

"At least two of the traders prepared schedules containing revaluation rates, which were emailed to third parties

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Banca Italease restructures after losses

MILAN – Banca Italease is to reorganise its risk management and control processes, following the announcement of a net loss of €686 million ($937 million) from its derivatives business.

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