Compliance

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Melanie Rodier
Melanie Rodier
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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.
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5. Let's Get Real

One man's loophole is another man’s livelihood.

—Bart Chilton, a Democratic commissioner, concerned that regulators were creating loopholes wide enough for Wall Street to exploit with the new derivatives rules, which include a crucial exemption whereby many non-financial companies and small banks are excused from certain provisions of Dodd-Frank.

Source: New York Times

 

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

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Wall Street & Technology - July 2014
In addition to regular audits, the SEC will start to scrutinize the cyber-security preparedness of market participants.
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