Compliance

10:29 AM
Melanie Rodier
Melanie Rodier
Slideshows
Connect Directly
Facebook
Google+
LinkedIn
Twitter
RSS
E-Mail
50%
50%

Wall Street Ethics, Derivatives Rules Loopholes, The Weirdness of PFGBest and More

Wall Street’s take on ethics and the downfall of PFGBest dominated financial news this week, while the CFTC finally approved rules for derivatives trading and HSBC admitted that for years it had done next to nothing to prevent money laundering.
Previous
2 of 7
Next


2. Missing In Action

How did the regulators miss this? It's very frustrating to be on the outside looking in and wondering where the regulators have been when all of this has been going on.

—Lauren Nelson, spokeswoman for Attain Capital Management, a broker whose clients used Peregrine's trading business, also known as PFGBest, after $215 million of customer money went missing and the firm’s founder, Russell Wasendorf, attempted suicide on Monday.

Source: Wall Street Journal

 

Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio

Previous
2 of 7
Next
Comment  | 
Print  | 
More Insights
Register for Wall Street & Technology Newsletters
White Papers
Current Issue
Wall Street & Technology - July 2014
In addition to regular audits, the SEC will start to scrutinize the cyber-security preparedness of market participants.
Video
Stressed Out by Compliance, Reputational Damage & Fines?
Stressed Out by Compliance, Reputational Damage & Fines?
Financial services executives are living in a "regulatory pressure cooker." Here's how executives are preparing for the new compliance requirements.