I don't think there are any loopholes in that sense. I can easily imagine you preferring to buy a ready team with existing infrastructure for regulatory reporti

I don't think there are any loopholes in that sense. I can easily imagine you preferring to buy a ready team with existing infrastructure for regulatory reporting than building one from scratch. Especially if your financial background is from prop trading and you despise - while having zero clue about - how banks actually manage their risk and communicate with regulators.