Consulting Firm Promontory Financial Suspended By NYDFS

Some might say you get what you deserve when you hire a fox to watch the henhouse, and not surprisingly that seems to be the case with consulting firm and "shadow regulator" Promontory Financial Group.

As noted first by the New York Times: "Promontory Financial Group occupies a position of trust in the global financial system, acting as a consultant to big banks, foreign nations and the Vatican. Its influence has soared over the years, positioning it as a sort of shadow regulator that...

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