For 30 years, financial scandals have been making front-page news. Among the most memorable were the fraud committed at Barings Bank in 1995, Sumitomo Bank in 1996, UBS in 2011 and JPMorgan in 2012.
In France, the most notorious affair remains the scandal at Société Générale, which on 24 January 2008, announced a loss of 4.9 billion euros through unauthorised transactions by a young trader, Jérôme Kerviel. This loss is one of the biggest incurred by a single trader in financial history.
However, since the “Kerviel affair”, the behaviour of traders on stock exchange floors seems scarcely to have changed at all, despite increased regulation of markets and financial institutions.
