The Financial Services Authority (FSA) has announced plans to update its Remuneration Code to take on board remuneration rules required by the Capital Requirements Directive (CRD 3) and the Financial Services Act 2010 (FS Act).
The Wall Street Journal reports that Goldman Sachs has told its staff that they should avoid expletives when communicating with colleagues / external parties via e-mail.
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The Guardian reports that Tom Comerford, a contractor in Goldman's New York-based graphics department, has been forced to choose between continuing to work at the firm (which he did in the evenings) and leading 'Credit Crunch Tours' for 'The Wall Street Experience'.
Here's a couple of things to be thinking about:
Bloomberg reports that hedge fund Paulson & Co is thought to have made a staggering $2.86m a minute in the 25 minutes it took for Lloyds Banking Group stock to fall $8.5bn Friday on the news that the firm's HBOS banking unit would report a $14.5bn pretax loss. Paulson & Co is known to have a short position in Lloyds stock.
Reuters reports that Institutional Investor's AR Absolute Return - Alpha has published its annual list of the highest-earning hedge fund managers for 2009.
iKas International ran out winners of the 2010 Here Is The City 'Best IT Recruitment Firm' poll.
Charlie Gasparino reports for Fox Business News that Goldman Sachs is said to have 'figured out a novel approach to getting around the Volver Rule's restrictions on trading'.
Reuters reports that UBS 'outdid rivals (in the second-quarter) thanks to strong investment banking revenues and shrinking client outflows'.