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- SEC Chair Clayton: Statement on Status of the Consolidated Audit Trail ('CAT')
- Goldman to Launch $5bn Fund with China Investment Corp.
- Wells Fargo Launches Robo-Adviser Targeting Millenial Investors
- Barclays Fails to End U.S. 'Dark Pool' Class Action
- Goldman Sachs' Chief Risk Officer, Craig Broderick, to Retire
- Time to Renew FINRA Registrations - B/D, IA, Agent, IA Rep, Branches
- New Jersey’s Next Governor Could Be a Democrat Who Worked at Goldman Sachs
- FINRA New York Region Networking Seminar - December 1st
- SEC Approves “Pay-to-Play” and Related Rules for Capital Acquisition Brokers
- Hedge Fund Giant Paul Singer Targeted for Destruction by Steve Bannon
- Saudi Arabia's arrest of Prince Alwaleed 'would be like arresting Warren Buffett or Bill Gates' in the US
- Arrest of Billionaire Saudi Prince Touches Sizable Stakes - Citigroup, Twitter, Lyft
- New York Fed President William Dudley set to announce retirement
- FINRA Arbitration Panel Rules Against ex-LPL Broker in $30Mn Lawsuit vs. Firm
- OOPS! Goldman, JPMorgan, BofA Fail in Pricing an IPO
- Former Merrill Broker Pleads Guilty to Fee Fraud, Faces Up To 25 Years
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NEWSLETTERS & ALERTS
‘Big Brother’ Surveillance at Barclays
by Howard Haykin
You can’t blame some London-based Barclays investment bankers for feeling ‘hot under the collar’ these days. That’s because the bank has installed OccupEye, the heat- and motion-sensing device that tracks how often employees are at their desks. The black-box devices, manufactured by Blackburn, U.K.-based Cad-Capture, are affixed to the underside of office desks.
Barclays bank, which informally notified its staff and an employee union about the “phased roll-out” of the devices, claims that “the sensors aren’t monitoring people or their productivity; they are assessing office space usage.” Which, according to the bank, means that it plans on using the data from boxes “to reduce costs, for example, managing energy consumption, or identifying opportunities to further adopt flexible work environments.”
Bloomberg News reached out to 10 other banks to learn whether they, too, use tracking devices on their London-based employees. Here's what they found:
- JPMorgan Chase, Goldman Sachs, Citigroup, Credit Suisse, HSBC Holdings, Royal Bank of Scotland do not currently use any kind of desk monitoring.
- Lloyds Bank uses similar motion-tracking devices.
- Standard Chartered, Deutsche Bank, Morgan Stanley did not immediately respond to requests for comment.