Survey: 24% Believe Their Firm Has Acted Illegally or Unethically

HFM Week
July 17, 2013

Jordan A. Thomas says that 'younger professionals' pose the greatest threat to investors

The survey shows that many in financial services "appear to have lost their moral compass," according to Jordan Thomas, partner at Labaton Sucharow and chair of its Whistleblower Representation Practice, which it says is the first legal unit set up to represent Wall Street whistleblowers.

He added: "Wall Street needs to take the first step toward recovery and admit that it has a corporate ethics problem, or Main Street should brace itself for more scandals."

"Younger professionals pose the greatest threat to investors," added Thomas, after the survey showed that younger workers were more likely to be aware of or engage in illegal acts.