The compliance officer who robbed banks: Five true tales from the investment industry trenches

  • 📰 nationalpost
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 80%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Peter Hodson: Here are some doozies I\u0027ve come across or been a part of during my 30\u002Dplus\u002Dyear investment career

One of my first gigs in the investment world was working at a discount broker. Hard to believe, but trading commissions used to be regulated. You might pay $200 to buy a couple of hundred shares of a blue-chip stock. But deregulation changed all that, and discount brokerages popped up everywhere.

Even back in the crazy go-go ’80s, this seemed suspicious, so, of course, we flagged the trade to regulators. Sure enough, Falconbridge received a takeover offer about two weeks later, and the client’s account soared in value. The client took out his giant profits, and I never heard from him or the regulators ever again.Once, as a fund manager, I was having a really good year.

That helps explain why the Street was in shock when a well-known brokerage in 2008 announced its compliance officer had been arrested for robbing banks during his lunch hour. The robber was making far more than $100,000 annually, and likely received nice fat bonuses as well. His 10 convictions only resulted in $33,000 of robbery proceeds.Article content

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 10. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Kevin O'Leary has gone on a crypto binge, but his investment fund has different ideasIn fact, O’Leary’s largest investment fund doesn\u0027t invest in crypto at all
Källa: nationalpost - 🏆 10. / 80 Läs mer »