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Eliminating Conflicts of Interests in Banks: The Significance of the Volcker Rule
Avci, S. Burcu Schipani, Cindy A. Seyhun, H. Nejat
Avci, S. Burcu
Schipani, Cindy A.
Seyhun, H. Nejat
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Abstract
Public policy has been focused on controlling the conflicts of interests in banks for the last eighty-five years with limited success. Banks have a unique place in the economy as intermediaries between investors and companies, allowing them to obtain significant private, proprietary information. Public policy is focused on trying to ensure that banks do not misuse this information for their own benefit to the detriment of their clients. This is a tough task.