Do mutual fund managers have more fun?

Do mutual fund managers have more fun?

The medical field is taking a harsh view toward gifts and entertainment. (See Biting the hand that feeds them.) The financial services industry is also cracking down, but more gently. Some of the antics are a bit overboard compared to what we’re used to in health care. From the Wall Street Journal (Party Tab: Wall Street to Set Limits on Gifts)

The… probe into gifts and entertainment… uncovered… instances of over-the-top entertaining. [R]egulators investigated a bachelor party for a Fidelity Investments trader, paid for in part by Wall Street brokerage firms competing for the big mutual fund company’s business.

The party included private jet travel, female companionship and rooms at Miami’s Delano Hotel, all paid for by Wall Street firms. It also featured tossing of dwarf Danny Black…

January 24, 2006

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