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The examination is designed to qualify candidates for a limited scope of activities as investment bankers, without the full requirements of the General Securities Representative Exam (Series 7). [ 1 ]
Investment banking has also been criticized for its opacity. [51] However, the lack of transparency inherent to the investment banking industry is largely due to the necessity to abide by the non-disclosure agreement (NDA) signed with the client. The accidental leak of confidential client data can cause a bank to incur significant monetary losses.
The Regulated Qualifications Framework (England and Northern Ireland) is split into nine levels: entry level (further subdivided into sub-levels one to three) and levels one to eight; [4] the CQFW (Wales) has the same nine levels as the RQF and has adopted the same level descriptors for regulated (non-degree) qualifications. [2]
They are available in a wide range of academic and applied (work-related) subjects, and as a ‘short-course’ option (equivalent to half a full GCSE). GCSEs are at levels 1 and 2 on the RQF, depending on the grade achieved. The Scottish equivalent of GCSE is the National 5 qualification.
Examination boards in the United Kingdom (sometimes called awarding bodies or awarding organisations) are the examination boards responsible for setting and awarding secondary education level qualifications, such as GCSEs, Standard Grades, A Levels, Highers and vocational qualifications, to students in the United Kingdom.
The commission made its recommendations to the UK government on 12 September 2011. Its headline recommendation was that British banks should 'ring-fence' their retail banking divisions from their investment banking arms to safeguard against riskier banking activities, [2] but it also made a number of other recommendations on bank capital requirements and competition in retail banking. [3]
The market for financial services evolved dramatically in the post-Civil War era. One of the most significant changes was the emergence of "active investment banking" in which investment bankers influenced the management of client companies through sitting on the finance committees and even directly on the board of directors of those companies. [8]
In late 2008 and early 2009, prominent scholars such as Alan Blinder, John Coffee, Niall Ferguson, and Joseph Stiglitz explained (1) the old net capital rule limited investment bank leverage (defined as the ratio of debt to equity) to 12 (or 15) to 1 and (2) following the 2004 rule change, which relaxed or eliminated this restriction ...