Subject category:
Finance, Accounting and Control
Published by:
Harvard Business Publishing
Version: 22 December 1992
Length: 3 pages
Data source: Published sources
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Abstract
Briefly summarizes the events that transpired after the investment bank Salomon Brothers revealed that it had repeatedly violated the rules governing the auction of new U.S. Government securities. Includes a description of the violations, the management shake-up that occurred after the firm''s August 8, 1991 announcements, the regulatory response to the violations, and the recovery of the firm under the direction of interim chairman, Warren Buffett.
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Abstract
Briefly summarizes the events that transpired after the investment bank Salomon Brothers revealed that it had repeatedly violated the rules governing the auction of new U.S. Government securities. Includes a description of the violations, the management shake-up that occurred after the firm''s August 8, 1991 announcements, the regulatory response to the violations, and the recovery of the firm under the direction of interim chairman, Warren Buffett.