What’s a good reason for an investment bank to shirk its responsibility? Earthquake

//What’s a good reason for an investment bank to shirk its responsibility? Earthquake

What’s a good reason for an investment bank to shirk its responsibility? Earthquake

An earthquake was one of the reasons given by an investment bank for its failure to conduct due diligence.Industry experts say a lack of harsh penalty is why some investment banks do not perform their gatekeepers’ role in full.But the Securities and Futures Commission is taking its role as watchdog seriously, stepping up its vigilance. This month it slapped a record fine of HK$786.7 million (US$100.2 million) on investment banks UBS, Morgan Stanley, Merrill Lynch Far East and Standard Charted…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2019-03-30T00:30:08+00:00 March 30th, 2019|Business|Comments Off on What’s a good reason for an investment bank to shirk its responsibility? Earthquake