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HomeSEC Whistleblower Program: Risks vs Rewards
Posted by Larry Doyle on July 22nd, 2014 7:50 AM |
If you became aware of unethical and likely illegal practices at your company, would you consider ‘blowing the whistle?’ This question is a daunting proposition filled with very real risks that should be measured against potential rewards.
Given the risks and unpleasant real life experiences of many whistleblowers on Wall Street, I firmly believe and recommended in my book that Congress should establish a privately staffed Office of Whistleblower Protection. Some may think that is overreach. I don’t. Others in much greater proximity to the ‘whistles’ would seem to share my view that blowing the whistle is a high risk proposition deserving of increased protection.
Let’s navigate. (more…)
The SEC vs Whistleblowers: Round 2
Posted by Larry Doyle on April 26th, 2012 8:28 AM |
Yesterday’s story regarding the SEC inadvertently, or not, blowing the cover of a whistleblower generated a lot of interest here at Sense on Cents and elsewhere. So much interest, in fact, that parties in both camps, the SEC and the whistleblower, got right back in the ring to make their case.
While I have my own strongly held beliefs, stated yesterday, as to the real driving force within SEC Enforcement, fairness dictates that I highlight competing views as well. On that note, what does the director of the New York Office of the SEC have to say on this matter? Let’s review a letter to the editor in today’s WSJ: (more…)
Rep. Michael Grimm (R-NY) Inducted Into Sense on Cents Hall of Shame
Posted by Larry Doyle on May 24th, 2011 7:17 AM |
Do you ever wonder how certain individuals in Washington might be so tone deaf as to miss the din and the roar of the American public screaming for increased transparency in our financial markets? Might these individuals be doing the bidding of the financial industry in return for the payoff of political campaign contributions?
How else could we explain why any individual in our nation today would promote a policy which would stifle the pursuit of badly needed transparency and real integrity in our financial markets? (more…)
Wall Street’s ‘Code of Silence’
Posted by Larry Doyle on April 7th, 2010 9:03 AM |
Shut up!!!
Imagine being in a situation in which you knew you had to be quiet in order to advance your own personal career, rather than speaking up and blowing the whistle on irregularities and improprieties within your firm. This message is consistently relayed by many a whistleblower who has suffered from having tried to do the right thing. What is the result? Firms tout their virtuous values of integrity, respect, and excellence while effectively muzzling those who would blow the whistle on crimes and illegal practices.
I believe this reality is all too present in many, if not most, industries in our society today. There is absolutely no doubt it is present on Wall Street. (more…)
