Conflicts of Interest in the Financial Services Industry:...
Crockett, Andrew / Harris, Trevor / Mishkin, Frederic S.
The fifth report in this series focuses on conflicts of interest that arise when a firm combines multiple lines of business, creating multiple interests. Conflicts between research and underwriting in investment banking and between auditing and consulting in accounting firms are investigated, as are the problems that arise from rating agencies providing consulting services and from universal banks combining commercial and investment banking. I...