What do you call 300 lawyers in a New York City office building?
It's not a joke, it's a hiring spree from BlackRock
CEO Larry Fink
said that his mutual fund shop plans on hiring 300 attorneys to deal with regulatory issues, according to a report from Reuters
This is because of varying regulations around the globe, Fink said at a conference.
"There is no consistent manner in which bank resolution will be applied," he said, according to Reuters
"It is a mess and we are trying to constructively work with our regulators ... There is a need for better global coordinated regulations."
Fore more details, check out the original article here
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