Garp on the block for $3

The Global Association of Risk Professionals (Garp) may finally become a democratic not-for-profit entity should advanced negotiations between David Shimko, president of consultancy Risk Capital Management Markets, and Garp’s founders, Lev Borodovsky and Marc Lore, produce an agreement.

At the end of February, Shimko confirmed he had signed letters of intent with both Borodovsky and Lore to hand over Garp and all its assets for a nominal price of $3. He expected to close the deal within a

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