Unethical and unacceptable behavior is nothing new in the banking and trading industry. Insider trading and greedy bankers that seek their own personal gain have tarnished the image of the financial industry. In an article titled “No Escape From Jail or Fines in Global Market-Abuse Curbs” (Bloomberg)the idea that these offenders should ‘face prison or tough fines regardless of where they are based” is explored.
David Wright, secretaty general of the International Organization of Securities Commissions said, “We have simply had far too many examples over the last 10 years of totally unacceptable behavior in financial markets. The potential illicit financial gains for them far outweighed the risks and costs of getting caught. This equation must be reversed.”
To read the full article click here