Back in 2011, the City of London Police started investigating Tradition Financial Services for "potential improprieties involving lavish spending and attempts to win overseas business by a number of Tradition brokers." Today, the Journal reports, that investigation has been dropped, apparently on account of the firm's board telling the authorities that it no longer had the manpower, money, or desire to cooperate. What kind of stuff was uncovered prior to the dropping of the case? Oh, just some business with a broker buying a client's kid a laptop, and this:
Among other things, the brokers paid for senior Libyan officials to fly to Marrakesh, Morocco, where they rented a luxury desert villa and had wild parties, according to people familiar with the trips and electronic-chat records reviewed by the Journal. One of Tradition’s Libyan guests referred to an upcoming Marrakesh excursion as “a week [of] joy in the NSL zone,” according to a chat transcript. That stood for “no sperm left,” people familiar with the expression said.
Even Jordan Belfort is going "Whoa guys, c'mon. You're running a business."