New York Summer Programs 2015Newsletter n°27 - January, 2015NYIBF Summer Programs are three weeks of high level classes for undergraduate and graduate students held in New York. Mornings are dedicated to classes in finance, business law, international business, etc. Visits of institutions such as the New York Federal Reserve Bank are organized on the afternoons. Meetings and conferences with professionals give students the opportunity to discover Wall Street professional world and to build their network. Fridays and evenings are free, to let students enjoy New York and the US. |
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 | Business Schools, strategy games and role-playingOne of methods of teaching business is undoubtedly the use of strategy games and role playing. It is of course fun and distracting and therefore makes the material easier to learn. It is also a practical tool for analyzing and working on business cases. It is also a surprising angle which helps to break the monotony of work.
But above all, it is awfully good! |
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 | Student? Why you should consider visiting a businessFor students of business schools and universities, Summer Programs offer the opportunity not only to take classes in their field of interest, but also to be in contact with the professional life of the place where they study. |
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 | 10 reasons why Manhattan can change you for the betterNew York is a city you’ll pass through. “It’s a town you come to for a short time” as Ernest Hemingway once said. Each man reads his own meaning into New York, but who won’t be agreed with these ten aspects of the Big Apple? |
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 | Dodd Frank and Volker Rule Following the financial earthquake of 2007-2008 and infamous abuse of some large U.S. investment banks and trading firms on Wall Street, and after the recall in 1999 by the Clinton administration of the Glass Steagall Act of 1932, and Banking Act of 1933, the Dodd Frank Act of Congress of the United States attempted to curb rampant speculation of the previous two decades.
The Glass Steagall Act of 1932 and the Banking Act of 1933 had introduced a separation between investment banks and commercial banks to speculate for their unrestrained account. This laudable intention was to prevent the renewal of a Wall Street crash of the magnitude of the 1929.
The results were mixed, so much so that the Clinton administration, under pressure from large U.S. investment banks, changed legislation in 1999. We know what followed, the failure of Lehman Brothers and the "Too Big To Fail" AIG. The law, Act of Congress, Dodd Frank, July 21, 2010 was to help restore financial equilibrium in preventing the mixture of genres.
Among the many measures taken by Dodd Frank, the Volcker Rule bans proprietary trading, which is a form of conflict of interest in which investment banks involved in the financial markets and especially Wall Street for their own account, in addition to, or instead of intervening on behalf of their client.
Importantly, even basic rules of common sense and honesty resulted in countless sub-rules and virtually countless practical consequences for all banks and financial institutions, not only in the U.S. but globally as well. Indeed, any bank or financial intermediary who wants to participate in Wall Street must respect Dodd Frank. Without knowing it all banks in the world violate the provisions of the Dodd-Frank Act, on a daily basis.
Hence the need for these banks to update, understand and comply with Dodd Frank. This is the notion of American global financial law that even if theoretically it applies only in the territory of the United States has jurisdiction DE FACTO (application) all over the world.
That is why all banks, banking and financial leaders, as well as managers must learn, develop and comply with compliance Dodd Frank and the Volcker Rule. NYIBF |
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