Wall Street Still Tempted by an Unethical Culture

With the release of the Firm’s recent survey, Jordan A. Thomas spoke to various media on the report’s “alarming” findings, noting that the survey suggests “more work needs to be done to establish a culture of integrity in the financial services industry. If [the industry] fails to do so, there will be more incidents, and the SEC will be facing more difficult choices over waivers.”

For example, according to Jordan, “The widespread, systematic, and previously unknown scope of gag orders in corporate America is a wake-up call for the SEC and other law enforcement authorities. These tactics are particularly insidious because they keep local, state and federal law enforcement organizations in the dark about all types of wrongdoing —everything from large-scale corporate frauds, environmental accidents and public safety concerns.”

There are people walking into my office who tell me about wrongdoing and ultimately choose not to go forward because of these agreements,” he told the Washington Post.