It insists that the Chinese walls separating its traders and bankers are always impermeable.
We have seen it in investment banks where Chinese walls have been ignored and information freely passed about.
Bankers protest that unbundling or putting businesses and competencies into different compartments behind Chinese walls will not suit investors.
ECONOMIST: The limits to removing banks' conflicts of interest
Chinese walls or no, it is no accident that most proprietary-trading desks are placed in the middle of the trading floor.
Carlyle has promised to erect Chinese walls between itself and AlpInvest, part of its ongoing efforts to polish a public image that has been battered in the past.
Generally, banks say "Chinese walls" separate analysts from deal makers.
Moves to outsource parts of their business to other financial firms or processing centres will also be rewarded by the market, as analysts and regulators see more Chinese walls going up.
Pensions are in a better position to know of the conflicts of interest related to an advisor but all-too-often accept assurances from management of these firms that Chinese Walls and other internal operating procedures are adequate to protect against harm.
KPMG's Chinese walls were not sufficiently strong to enable it to take on a case for the Brunei Investment Authority, having previously been employed as a forensic accountant by Prince Jefri, a former chairman of the authority, and the sultan's younger brother.
Banks insist their size and scale brings benefits to society, allowing them to glean insights from different markets and pass on this information advantage to customers while managing conflicts of interest between their own and client interests by way of Chinese Walls between units.
Tourists and locals alike came to gawk at its Chinese antiques, hand-painted walls, and the intricately carved and gilded dragons in its lobby ceiling.
"We want to make people feel as if they are home, " says Wei Cheng, a hotel manager in Hangzhou, near Shanghai, although few Chinese homes have Day-Glo walls.
Less than a generation ago, Chinese villagers crowded around newspapers pasted to walls in the center of town to read the latest news.
When the capital eventually shifted to Bangkok and the Grand Palace was built in 1782, the Chinese were requested to move outside the city walls.
In the Chinese business environment, even the virtual world has real walls.
Mr. Hua also wanted to keep the essence of the Chinese farm house, including the tiled roof and the whitewashed walls.
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