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Conspiracy to fix wages? Trafficking in insider information? And, the anonymous source doesn't give further details? I don't know what Illuminati have to do wi
by jsprogrammer 10y ago
Conspiracy to fix wages? Trafficking in insider information? And, the anonymous source doesn't give further details?
I don't know what Illuminati have to do with this post, but I'm sure compliance personnel, at least, would like to know what is said at remote, private discussions between high-level representatives of competing firms.
- JumpCrisscross 10y ago> I'm sure compliance personnel, at least, would like to know what is said in the discussions about them It's not common practice to record office conversations. Neither is it common to forbid offsite meetings.
- FireBeyond 10y agoWhy should an attorney for a competing firm be party to any discussion as to your future compensation?
- rayiner 10y agoThey're not talking about individuals' compensation specifically. They're talking about the legal risks surrounding incentive compensation. It's like developers getting together to talk about two-factor authentication.
- totalZero 10y agoThere's a higher-level discussion wherein the compliance guys are supposed to be the watchmen, but if you give them stock or options, then they are suddenly incentivized to do whatever is most profitable for the firm. That's the discussion mentioned. The counterpoint is that, if you have strong regulators, then they will sniff out the funny business anyway. The resultant fines would hurt the bank's stock, which would still be negative for the compliance personnel. There, we just had a discussion as to compliance workers' future compensation. And we're not even in the business!
- jsprogrammer 10y agoI'm pretty sure the last conversation I had in an office was recorded; and broadcast live.
- subway 10y agoSounds like your typical CxO support group.