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The US financial industry has almost the exact same contiguous time off requirement for the same reasons.
by rmah 5y ago
The US financial industry has almost the exact same contiguous time off requirement for the same reasons.
- jlund-molfese 5y agoCan you provide a source or examples? Asking out of ignorance—I've worked in insurance and currently work for a US-based financial services company, but haven't heard of this practice before.
- chdoyle 5y agoIt happens at most major investment banks, although to my knowledge the mandatory "two weeker" is generally limited to employees who manage risk like traders. It forces another person on the trading desk to be responsible for their carried positions which should help identify any mismarking or other types of fraud. https://www.wsj.com/articles/SB10000872396390444914904577615483583558306 https://www.wsj.com/articles/SB10000872396390444914904577615...
- fluxode 5y agoIt is typically referred to as YAR (yearly absence requirement) https://www.newyorkfed.org/banking/circulars/10923.html https://www.newyorkfed.org/banking/circulars/10923.html