As various proposals are implemented to reduce the propensity for FX manipulation, WM Company takes the simple step of widening the fixing window to 5 minutes. Does a wider window reduce the chance of collusion?
Ongoing macroeconomic and geopolitical themes are pushing several asset classes to multi-year highs (lows) and causing significant angst amongst investors.
The 'Trifecta' of regulatory agencies has missed one thing: front-office bankers are working in a savagely competitive environment founded on a hierarchy that breeds the desire to cheat.
In a blow to attempts to restrain rampant tax evasion, a Senior ex-UBS banker is acquitted of defrauding the US government by helping UBS conceal $20 billion. The difference between tax avoidance and tax evasion is the thickness of a prison wall.
