FiRRM

In his disputation Whale Watching on the Trading Floor: Unravelling Collusive Rogue Trading in Banks Hagen Rafeld explores organizational misbehaviour (OMB) theory and explains the latter and two other major collusive rogue trading events at National Australia Bank and the interest reference rate manipulation/LIBOR scandal through a descriptive model of organizational/structural, individual and group forces. He points out that the OMB theory is suited to be applied to CRT due to its ability to explain negative consequences of complex corporate workplace environments on macro, meso and micro level and draws a conclusion on how banks can establish behavioral risk management and internal control frameworks to reduce potential collusive rogue trading.