Compliance

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Greg MacSweeney
Greg MacSweeney
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JP Morgan's $2 Billion "Oops," the Euro's Demise, Millennials IT Workers, and More 

JP Morgan makes a $2 billion trading error, the Euro may still flounder and millennials are having a big impact on the modern IT workforce. Wall Street & Technology keeps you in the loop by compiling some of the best quotes of the week.
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5. Volcker's Rule

It is surely inappropriate that [proprietary trading] activities be carried out by institutions benefiting from taxpayer support, current or potential. Proprietary trading is not a necessary ingredient of bank profits.

— Paul A. Volcker told the Senate Banking Committee, as he defended the rule that bears his name

Source: NY Times Dealbook

 

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

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