Users of this popular counseling tool first help the client rule out certain classes of methods, then are guided by the strategy's algorithm to: (1) visually present the remaining methods in order of effectiveness, (2) fully explain the concept of effectiveness, and (3) counsel the client beginning with the most effective methods.
Last week, the chairman of Deutsche Bank's supervisory board, Rolf E. Breuer, lost another legal battle when a court in Munich ruled that he had breached client confidentiality rules by commenting publicly about the financial travails of Kirch, the German media empire that later collapsed.
The £38m fine is the second punishment Barclays has received for breaches of client asset rules.
He said yesterday that client confidentiality rules prevented him from commenting further.
Client confidentiality rules would probably have prevented him from disclosing the hedge fund's name to IKB, he said.
It is bigger than the £33m imposed on JP Morgan in 2010, when City regulators began focusing on client asset rules in the wake of the collapse of Lehman Brothers.
In an internal memorandum sent to employees Thursday and obtained by The New York Times, Daniel Pinto, chief executive of JPMorgan Securities, wrote that the error "was not deliberate" but it "did breach the F.S.A.'s client money rules, which we regret".
In mid-June, UBS filed a broker report for Mr. Arbizu's successor, Mr. Decastro, saying that he had left the firm amid an internal investigation of "violations of firm compliance and client confidentiality rules".
Federal regulators, after an initial failure, today charged for a second time that Ernst & Young's dealings with a software client violated rules intended to keep accountants independent from the companies they audit.
