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The dog in the night time: Difference between revisions
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:*Regulators on the Savings and Loan scandal | :*Regulators on the Savings and Loan scandal | ||
:*[[BaFin]] on [[Wirecard]] | :*[[BaFin]] on [[Wirecard]] | ||
*'''Patchwork of politicised regulators''': Operating a business at the intersection of regulatory regimes where (i) arbitrage is possible even for honest players (ii) complexity makes compliance difficult, encourages opaque behaviour (iii) sophisticated forensic analysis of the rules pays further dividends (iv) competing regulators have a turf war and are thus otherwise occupied, and incentivised to keep businesses they regulate "onside"; (v) business finance political campaigns and indirectly influence the leadership of regulators - S&L scandal | |||
===In bed with the lawyers and accountants=== | ===In bed with the lawyers and accountants=== | ||
A very cosy relationship with a single law firm, accounting firm or management consultancy firm. Especially if there is a history of parachuting senior personnel of one organisation into the other — senior partner becomes general counsel, etc. Especially if the law firm is otherwise not a significant player. Points for style: cosy relations with single firms in all of the above (top marks, [[Enron]]!) | A very cosy relationship with a single law firm, accounting firm or management consultancy firm. Especially if there is a history of parachuting senior personnel of one organisation into the other — senior partner becomes general counsel, etc. Especially if the law firm is otherwise not a significant player. Points for style: cosy relations with single firms in all of the above (top marks, [[Enron]]!) | ||