The drama now playing out in the LIBOR-fixing scandal appears to catching stride. I ran across an excellent New York Times DealBook post recapping the state of play and what large banks, I think sixteen in total, are likely to encounter in the weeks and months ahead as the grip of regulatory reckoning fully takes hold. Read more1 Comment
One of the perpetual ethics issues facing the finance industry is the general theme of mis-selling of financial products. CFA Institute has been tracking the issue in annual polls and commenting on possible fixes for years. The sad truth is many financial professionals may not even know they are doing it. This is your year-end reminder to tune up your act. Read more1 Comment
Looked at through the lens of action cinema, there is almost enough intrigue and drama in the last four years of SEC oversight to launch a new movie series. Never before in our history has this agency, so critical to markets and investor protection, been as tested to its limits as it has since 2008. Read moreLeave a Comment
Finance industry pundits are buzzing about the notion that an Obama win means a full-court press on the financial services industry. By our reckoning, we are struggling to see that outcome — the idea of some massive shift in either the pace of implementation or the rigor of Dodd-Frank rules in general. In the view of this Fearless Fiduciary, it feels more like “Dud Frank,” but perhaps there is hope.