Question #1
Maybe if you could start out by giving our readers some advice on how to prevent rogue trading from happening. What are some critical things that should be done internally in order to prevent this type of fraud?

Question #2
Do you have any examples of what people can do to ensure they have the right personnel in these types of positions?

Question #3
How exactly were you able to circumvent the systems at Barings and how did you get caught up in rogue trading?

Question #4
Would you have expected this type of loss to happen at a firm like Societe Generale?

Question #5
Anything specifically at SocGen or at Barings, obviously you saw them as one of the top shops, what are the specific loophole or inadequacies that make this a possibility. How does this happen?

Question #6
Why weren't the rogue traders of late caught by risk management systems or people?

Question #7
Are there any specific internal controls that are most important or were most overlooked in the SocGen situation?

Question #8
Any other examples of how the technology and/or risk management systems should have indicated a problem?

Question #9
What areas or products are most prone to rogue trading activities and why exactly?

Question #10
What motives a rogue trader and why don't they try to get their losses earlier and get out earlier?

Question #11
How can management ensure that rogue traders can't get away with their trades?

Question #12
I imagine that reporting structure is extremely important as well, so settlement shouldn't report to the traders or risk management shouldn't report to the traders-they should be reporting to someone completely separate.

Question #13
You talked about the risk management systems not working, but is it really that they didn't work or was it that people higher up ignored it because they didn't fully understand?

Question #14
What about external and internal auditors? How were you still able to get away with it and what kind of people might be best suited for these types of positions?

Question #15
How can firms make these positions more attractive to intelligent, ambitious employees and potential employees?

Question #16
Do you see this happening again?

Question #17
Looking back on your experiences, any reflections?

Question #18
Are you doing any trading anymore?