Re:The Konami exodus
by TerminalJunkie on Thursday June 15, 2017 @10:21AM
(#14560625)
Planet Money did a podcast on this very thing
http://www.npr.org/sections/money/2016/10/28/499805238/episo...
Finance is different get caught doing naughty things and you can be banned for life in the same way a Dr can be struck off
The most famous financial criminal of the 1980s United States, Michael Milkin, is now a wealthy philanthropist living large in Los Angeles. The disincentive for large-scale financial crime in the United States is just not there.
I think he was before the finance industry put this in place
... Unless you're C-level, in which case you merely lose your bonus at worst.
FINRA is an industry group
Re:The Konami exodus
by yourapostasy on Thursday June 15, 2017 @10:04AM
(#14560456)
Thanks for the correction, it is a self-regulatory measure by the US financial services industry.
For bank tellers, I believe this is tracked via the federal agency FINRA, through AWC submittals. For the Wells Fargo employees, you likely are thinking of the brokers who were ordered by Wells Fargo management to fraudulently open accounts. Allegedly, many of these brokers then found out later after they were terminated from Wells Fargo that the bank marked their termination on a U5 form in a manner that all but ejects them from the financial services industry, forever [1]. In both of these cases, they are via mandatory regulatory notifications, and not like the Japanese cases discussed here where it sounds more informal.
[1] https://www.nytimes.com/2016/11/04/business/dealbook/wells-f...