Arthur Levitt, former chairman of the U.S. Securities and Exchange Commission, interviews Anat Admati, a professor at Stanford University and coauthor of "The Bankers' New Clothes: What's Wrong With Banking and What to Do About it." They spoke on Bloomberg Radio's "A Closer Look With Arthur Levitt."
Ralph Lauren Corp., the retailer of its namesake brand clothing, will pay about $1.6 million to resolve U.S. regulatory and criminal claims that a subsidiary paid bribes to officials in Argentina from 2005 to 2009.
HSBC Holdings Plc’s Swiss private bank was an “open door” for money laundering and terrorist finance because managers failed to exercise controls, said Herve Falciani, a former software technician accused of stealing data.
JPMorgan Chase & Co. investors risk shortening Jamie Dimon’s tenure as chief executive officer if they appoint a separate chairman to help lead the bank, according to Charles Peabody, an analyst at Portales Partners.
Mary Schapiro’s decision to join Promontory Financial Group LLC after running the U.S. Securities and Exchange Commission amplifies the firm’s competitive advantage as an employer of former regulators.