Deutsche Bank, Barclay's to start holding traders responsible for corruption

#5
#5
VolsNSkinsFan said:
Why would they be arrested? The article states it's an HR issue. Not a breaking the law issue
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First paragraph...

(Reuters) - Senior bankers at Deutsche Bank AG <dbkgn.de> are leaving the bank amid a crackdown on bad behavior by traders, as the bank undergoes a probe by global regulators into allegations of attempts to rig markets, the Financial Times reported on Sunday.
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The newspaper reported that other banks like Barclays <barc.l> are also in the process of introducing similar measures, after its bonus culture was cited as one of the factors that led to the Libor manipulation rate scandal.
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Deutsche Bank fires Australia FOREX trader for hiding losses in the millions | LeapRate

Metals, Currency Rigging Is Worse Than Libor, Bafin Says - Bloomberg

Barclays, Deutsche Bank Accused of Gold Fix Manipulation - Bloomberg
 
#6
#6
Yes the bank is being investigated but the traders are leaving due to a shift bonus payouts. Not because of laws broken. The original article states the bank is actually getting more risky by moving toward less regulated alternative investments and moving away from the more regulated, trading side
 
#7
#7
VolsNSkinsFan said:
"Disruptive" and "not team players" is an HR issue. Not a breaking the law issue
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The article said that top earning brokers will not receive bonuses if they engaged in "disruptive" behavior. Using the context of the article "disruptive" clearly means engaging in activities on the shadier side of fraud. Ras was pointing out the punishment for "disruptive" behavior should be prosecution instead of witholding bonuses.

Of course you defended HFTs, so I can see how you interpreted a "disruptive" trader as an employee that annoys his coworkers.
 
#8
#8
"Disruptive" behavior on a trading floor is cussing, being loud, abusive and demanding. Not breaking laws
 
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#9
#9
The investment industry sure does seem to attract get rich types at an alarming rate.
 
#10
#10
VolsNSkinsFan said:
"Disruptive" behavior on a trading floor is cussing, being loud, abusive and demanding. Not breaking laws
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Sadly you are probably right. Cussing and loud employees will be severely punished, while employees engaged in fraud will continue to receive huge bonuses.
 
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