One theme from the Archegos fallout is the huge, still unstatisfied KYC opportunity. Did Nomura & Credit Suisse vet Bill Hwang before extending his firm so much leverage? Did they truly "know their customer"? Exchanges & data co's KYC services help prevent this kind of blowup.
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CS had previously worked with Hwang
So they indeed did know who they were overexposed to. Whoever hit the “manual override” button on their compliance/risk management process is the bagholder for their -12% drop today
