Kerviel acted alone - SG report finding
The bank said its internal controls had worked as planned, but that it did not have any controls in place that could have stopped Kerviel.
SG admitted that it did not monitor transactions that were subsequently cancelled or modified, nor nominal positions (as opposed to net positions), nor transactions with unspecified counterparties or unusual dates.
Its staff were too ready to accept Kerviel's explanations when internal monitors raised the alarms - which happened a total of 93 times, the
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