Sevens heaven for compliance

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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Sevens heaven for compliance

When I slipped on the banker’s version of smart casual (blazer, shirt and chinos) and headed off to the Hong Kong Sevens, I was gearing myself up for a memorable weekend.

Free-flowing alcohol at the numerous boxes I’d been invited to, and some even more free-flowing conversation with the heavyweights in the industry was what I was expecting. But boy, was I in for a surprise — and I don't just mean because of the interruption to the flushing water supply on Saturday.

I don’t know how else to describe it, but this year’s Sevens was just a very tame affair. The rugby tournament has long been about having a legitimate excuse to get squiffy with your clients. But this year compliance issues proved a big party-pooper.

Things have become so strict at some firms that bankers and investors cannot be trusted to stay in the same room and watch the rugby. One friend at a big investment bank told me that because some investors he knew were hogging his firm’s box, he was forced to sit in the regular stands instead.

And one chap who did manage to pass the airport-level security to get into a box had to be on his best behaviour because the global CEO was there. This meant he had to keep track of how many beers he was drinking and resist the temptation to wear any of the novelty merchandise scattered around.

But I guess it could be worse. I could have been in a blue bunny rabbit onesie in the South Stand avoiding missiles filled with unidentified liquids. If I was forced to choose I’d go for the compliance-saddled box any day of the year. 

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