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Compliance

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Greg MacSweeney
Greg MacSweeney
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The True Cost of HFT, Sandy Weill's About Face, Death Star of Finance, and more

Sandy Weill, the former Citigroup chief executive and shatterer of Glass-Steagall says the industry needs a return to the separation of commercial and investment banks, while a recent study on HFT reveals that the practice costs long-term investors $2.5 billion per year.
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1. About Face

What we should probably do is go and split up investment banking from banking. Have banks do something that's not going to risk the taxpayer dollars, that's not going to be too big to fail.

— Sandy Weill, the former chief executive of Citigroup

Source: NY Times Dealbook: Weill Calls for Splitting Up Big Banks

 

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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Financial services executives are living in a "regulatory pressure cooker." Here's how executives are preparing for the new compliance requirements.
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