A firm settled charges that it had hired individuals referred by foreign officials and other clients in order to obtain improper business advantages in violation of the Foreign Corrupt Practices Act.
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Federal Reserve Bank of New York President and CEO William C. Dudley opined that in recent years, the financial services industry has suffered from "deep-seated cultural and ethical problems."
In an article published in the Federal Reserve Bank of New York Economic Policy Review, economists examined the "role of financial reporting in resolving agency conflicts among a firm’s managers, directors, and capital providers."
In a special issue of the Federal Reserve Bank of New York's Economic Policy Review, economists considered culture, governance and behavioral risk management in the financial services industry.
FINRA named former President of the Federal Reserve Bank of Philadelphia Charles I. Plosser to its Board of Governors. Dr. Plosser also was a member of the Federal Open Market Committee. Earlier in his career, he was the John M. Olin Distinguished Professor of Economics and Public Policy, as well as Director of the Bradley Policy Research Center at the William E. Simon Graduate School of Business Administration at the University of Rochester, where he also served as dean from 1993 to 2003. Currently, he is a research associate at the National Bureau of Economic Research in Cambridge