Analysts learn to live with CP-205
The Financial Services Authority’s (FSA) new rules governing conflicts of interest in investment research could spawn a cottage industry in interior design tailored for research teams in dire need of CP-205 compliant office layouts. The CP-205 working paper describes the FSA’s policy on conflicts in investment research.
Morgan Stanley has announced its research analysts will soon be housed behind a physical barrier, while other banks are occupied with the strategic positioning of potted plants aimed at cosmetically creating the appearance of compliance.
Credit analysts for both cash and structured products see the pending construction boom as part of an appropriate response to the FSA’s rules regulating their business. “Building a physical wall is window dressing. But the point of the regulation is to be seen
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