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The letter notes that there is no compulsion to inform the regulator when such a deal is made.
That's hard to say since the regulator, when it finally spoke, was only clear on what it won't do.
Alan Moses, the chair of Ipso who has long faced questions over the independence of the regulator when the code committee is dominated by powerful editors, thanked Dacre.
He said any errors by junior workers covered by the certification regime would need to be reported annually to the regulator, when they might otherwise have been handled by their managers.
Twitter can also address any concerns the SEC has about its submission in private though it must reveal its correspondence with the regulator when it finally publishes its IPO documents.
He said there were huge risks for the regulator when millions of homebuyers were tempted to take on greater levels of debt to purchase a flat or house, especially when many of them were betting that rising house prices would provide long-term gains.
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Mr. Greenberg said he was warned to shun the regulators when they visited, which was daily.
It raises once more a fundamental question : Where were the regulators when this was happening?
It raises once more a fundamental question of these times: Where were the regulators when all of this was happening?
Mr. Fitzpatrick repeatedly asked Ms. Serwinski why she hadn't told any of the regulators when she became concerned.
Anyone who wants to operate an investment bank had better had lots of contacts at the SEC, and preferably a good job to offer the regulators when they leave the agency.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com