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Comment by jsprogrammer | Hacker News Reader

Conspiracy to fix wages? Trafficking in insider information? And, the anonymous source doesn't give further details?

I don't know what Illuminati have to do with this post, but I'm sure compliance personnel, at least, would like to know what is said at remote, private discussions between high-level representatives of competing firms.

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> I'm sure compliance personnel, at least, would like to know what is said in the discussions about them

It's not common practice to record office conversations. Neither is it common to forbid offsite meetings.

Why should an attorney for a competing firm be party to any discussion as to your future compensation?

There's a higher-level discussion wherein the compliance guys are supposed to be the watchmen, but if you give them stock or options, then they are suddenly incentivized to do whatever is most profitable for the firm. That's the discussion mentioned.

The counterpoint is that, if you have strong regulators, then they will sniff out the funny business anyway. The resultant fines would hurt the bank's stock, which would still be negative for the compliance personnel.

There, we just had a discussion as to compliance workers' future compensation. And we're not even in the business!

They're not talking about individuals' compensation specifically. They're talking about the legal risks surrounding incentive compensation. It's like developers getting together to talk about two-factor authentication.

I'm pretty sure the last conversation I had in an office was recorded; and broadcast live.

Sounds like your typical CxO support group.

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