Defections give new life to revolving-door debate
Post-crisis reforms have spurred demand for regulatory staff from banks, consultants and law firms. This has changed the career – and earnings – prospects for rule-makers, but critics fear it could also have a chilling effect on current supervision. By Tom Osborn
"There's not an industry in the world that is more involved in politics or with policy-makers than the financial sector," says Bart Chilton, a Washington-based senior policy adviser at US law firm DLA Piper – and he should know.
Before moving to the world's second-largest law firm earlier this year, Chilton was a commissioner at the Commodity Futures Trading Commission (CFTC), and before that he served as a Congressional aide and adviser for 32 years.
Is that a problem? It depends who you ask
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