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<Book>
Conflicts of interest in the financial services industry : what should we do about them?

Responsibility Andrew Crockett ... [et al.]
Series Geneva reports on the world economy ; 5
Material Type Book
Publisher Geneva : International Center for Monetary and Banking Studies
Publisher London : Centre for Economic Policy Research
Year [2004?]
Language English
Size xx, 119 p. : ill. ; 25 cm
Abstract In the recent stock market collapse, confidence in the financial industry was shaken by numerous scandals. Beginning with Enron in 2001, scandals brought about the demise of prominent financial figure..., damaged the reputation of premiere firms and destroyed the global accounting giant Arthur Andersen. Central to this crisis was the exploitation of conflicts of interest. Research analysts at investment banks were found to be distorting information at the behest of underwriting departments eager to promote new issues. Auditors appeared to sanction misleading accounting in order to gain business for the consulting side of their firms. Policy response in the United States was quick. Large fines were levied and regulators compelled the separation of financial activity by function, constraining financial conglomerates.show more
Table of Contents What are the issues?
Investment banking : conflicts of interest in underwriting and research
Accounting : conflicts of interest in auditing and consulting
Conflicts of interest in universal banking
Overview and conclusions
Discussion and roundtable.

Holdings


Central Library 3B 338/C 93/20040156 2004
017212004001565

Bibliographic details

Notes Other authors: Trevor Harris, Frederic S Mishkin, Eugene N White
Includes bibliographical references (p. 113-119)
Authors Crockett, Andrew
Harris, Trevor S.
Mishkin, Frederic S.
White, Eugene Nelson, 1952-
International Center for Monetary and Banking Studies
Centre for Economic Policy Research (Great Britain)
ID 1001168822
ISBN 1898128790
NCID BA67616631
Vol ISBN:1898128790
Created Date 2009.09.17
Modified Date 2009.09.17

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