He would be asked in his role to report certain transactions in ways he didn't agree with.

A central tenet of banking is to know your customer, and banks are required to report certain suspicious transactions to regulators.

Federal law requires financial institutions to report transactions of $10,000 or more.

Banks had to report transactions of more than ten thousand dollars.

And simply not reporting transactions left investors in the dark about trades being made for the benefit of corporate executives.

In this case, 12 companies with 1,600 outlets had to report transactions over $750 and to submit copies of picture identity cards of those involved.

For example, the report noted a division over whether banks should be required to report suspicious transactions.

The final communique also will not include a call to require financial institutions to report large transactions, which would help investigators spot drug traffickers.

But Nasdaq began reporting actual transactions in 1992.

Even if they were, new money laundering regulations now demand that bankers report suspicious transactions.