Compliance professionals are winning the arguments. The questions are how and why, to which the answers may be negligence and greed.
Late in March, a fund managed by Bill Hwang, Archegos Capital, was unable to meet margin calls, leading to colossal sell downs of stock and, ultimately, the loss of billions for some banks. There are ongoing reviews, assessments, and investigations into what happened, though there is currently no suggestion Hwang or Archegos undertook any unlawful activity or breached any regulations. Regulatory action is likely, but I assure you it is not all bad news.
