Another Day At A Medium-Sized International Bank V

As the curtain on my banking career looms large I feel a certain drive to record some of the little details that make the financial industry unique. In an earlier post I mentioned that the daily spaghetti of crossed-wires communication had a lot to answer for. Here’s another little nugget….

Dear Mr Tchübacher,

I hope you may be able to assist. One of my team has asked for clarification on personal account trading rules in relation to certain products.

I have scanned the compliance manual and haven't come across any specific guidelines on this subject, so I would like to seek your clarification on what regulations or rules apply for a member of staff to use margin trading accounts?

Many thanks in advance,
UDH Boy

….Two days later…..

Hi Mr Tchübacher,

I have not had a reply to my previous mail. My team member is still asking me about the rules governing this kind of activity. Could you please pass on to whoever can answer so that I can inform my staff accordingly?

Many thanks,
UDH Boy

….One day later….

hey UDH Boy,
i give this to advisory to clear the new structure of our team. For the moment i think that our new structure with the same workaround still have the same rules as before. I escalate it today and hope that it will be clear in the near future. ;-)

Herr E. Tchübacher
Compliance Officer

Hello Herr Tchübacher,

I’m sorry, I didn’t quite follow your mail. Please can you clarify the rules on margin trading accounts or direct me to the appropriate person?

Thanks,
UDH Boy

…..One day later…..

Hey UDH Boy,
sorry for delay but we have still problems. It´s what i say yesterday, before it will be finaly clear the new structure with our Boss and Compliance, the best way is to leave it as before. The appointment will be in the near future (i hope next week). Offiziell rules are not exist of this point. But it´s in inoffiziell rule to say before we know the new rules we must leave the oldest rules. Better is better. I hope it help for the moment.

Herr E. Tchübacher
Compliance Officer

(This issue is unlikely to be resolved in 2008...)

Happy Birthday to Lisnambulist ;-) x