No win situation for CSFB in India

What will CSFB do with its staff in India now it has categorically been banned?

In the legend of the Sword of Damocles, the threat of punishment is ever-present, and creates a climate of fear as the victim waits for the inevitable fall of the sword on their neck. In CSFB's case, its experience in India may have been more of a Poppadum Guillotine, but after months of waiting, a great deal of appeals and being accused of some previously unknown things, such as circular trading, it has finally received a two-year ban.

However, a closer look at the ban tends to suggest there is an element of face-saving in this from the regulator's perspective. From what FinanceAsia can gather no fresh evidence was found by...

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