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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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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.