Good morning and welcome to Insider Finance. I’m Dan DeFrancesco, and here’s what’s on the agenda today:
Micromanagement, surprise employee investigations, and email surveillance: Why top mortgage bankers are quitting Wells Fargo in the middle of a red-hot housing market
More than 20 of the bank’s top
have left in the past year, while four members of the elite President’s Club have left since December. Insiders described a culture of heavy oversight and clunky technology that limited their ability to do business.
The CFTC’s whistleblower program could go bust thanks to a high-dollar payout. Here’s why a $100 million payout to a former Deutsche Bank executive could put it in jeopardy.
The SEC has proposed cracking down on blank-check companies. Why the ‘SPAC Mafia’ hedge funds aren’t worried about regulation.
Despite the SEC’s proposed new regulations on special-purpose acquisition companies, hedge-fund managers say the rule changes won’t affect their outlook on the blank-check vehicles. Here’s why.