COMPLIANCE
SocGen Trading Scandal in Asia
Two traders from SocGen Hong Kong’s branch are mired in a “scandal” about high-risk trading that went undetected by the bank’s risk management systems.
And of course in the reality-tv and social media world we live in, one of the traders in question posted his side of the story on LinkedIn.
FX
Zimbabwe Introduces New Currency
Zimbabwe has announced a new official currency, the ZiG. This new currency is backed by gold and other foreign currency reserves.
This new currency may be exchanged for other currencies and traded internationally, unlike it’s predecessor.
This is the sixth time in history Zimbabwe has introduced a new official currency.
This time, they hope to stabilise their economy and prevent it from collapsing.
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