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Wall Street’s Recidivists

Posted By Anna W On December 6, 2011 @ 2:30 pm In Legal,Really, really bad calls | Comments Disabled

Wall Street firms continue to look at SEC settlements as the cost of doing business.

Despite promises to not repeat the same law, they seem to run afoul again and again.

Here is the NYT analysis of Securities and Exchange Commission documents showing 51 repeat violations  since 1996 by a handful of firms.

Bank of America and Citigroup are tied for the lead (six repeat violations), while Merrill Lynch and UBS share 3rd and 4th place (five apiece).



Source: Wall Street’s Repeat Violations, Despite Repeated Promises [2]
NYT, November 2011

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URL to article: http://www.ritholtz.com/blog/2011/12/wall-street%e2%80%99s-recidivists/

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[1] Image: http://www.ritholtz.com/blog/wp-content/uploads/2011/12/ra.png

[2] Wall Street’s Repeat Violations, Despite Repeated Promises: http://www.nytimes.com/interactive/2011/11/08/business/Wall-Streets-Repeat-Violations-Despite-PromisesStsssss.html

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