BROWSE BY TOPIC
Stories of Interest
- Inside Scaramucci’s Extreme Loyalty to Trump – William Cohan
- Who President Trump Can Pardon, and Who He Can’t
- Ex-UBS Compliance Officer, Day Trader Deny Insider Trading
- Private Equity’s Big Bets on Financial Tech
- Trump Reportedly Floats Making Rudy Giuliani Attorney General
- Mastercard Wins Dismissal of $18 Billion Class Action Suit
- Jailed Schroders Trader Also to Pay $456K for His 'Criminal Lifestyle'
- Raymond Lucia, Ex-Radio Host Asks U.S. Top Court to Rule On Administrative Law Judges
- As Trump Administration Circles the Drain, Anthony Scaramucci Finally Lands West Wing Job
- Internal Power Struggle Rattles Guggenheim Partners
- Why Most People Will Never Be Successful
- Top Deutsche Bank Trader Leaves After Risky Bets Led to $60Mn Loss
- Bank of America Picks Dublin as EU Hub Post Brexit
- E*Trade Rises 4% as Q2 Earnings Beat Estimates
- I Scream, You Scream, FINRA Screams For Ice Cream ... or ... FINRA Deep-Freezes Broker
- Senate Panel OK's David Kautter, Trump Pick for Top Treasury Tax Job
- OJ Simpson Granted Parole After 9 Years in Prison
- PayPal to Partner with JPMorgan
- BNY Mellon Beats on Q2 Earnings as Revenues Improve
- I Scream, You Scream, FINRA Screams for Ice Cream ... or ... FINRA Deep-Freezes a Broker
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NEWSLETTERS & ALERTS
HSBC Restricts Personal Trading by Traders
HSBC Holdings, which employees over 200,000 employees worldwide, has told about 6,000 employees of its global markets division that they are prohibited from purchasing single-name securities and concentrated ETFs in their personal accounts.
Employees will be permitted to maintain existing holdings of securities prohibited by the new rules, though sales must be pre-approved by compliance personnel. Since the start of the year, HSBC has hired 1,800 extra compliance staff, bringing its total compliance staff to more than 6,000.
RESTRICTIONS AT OTHER BIG BANKS. HSBC wouldn’t be the first big bank, and it won’t be the last, to restrict personal trading in order to combat potential conflicts of interest.
- Goldman Sachs bars investment bankers from trading individual stocks and bonds.
- JPMorgan bans “speculative and other short-term investment activity” or the purchase of securities of a client.
- Deutsche Bank requires managerial approval for trades in personal accounts.