Market Research Uncovers Prevalence of Shady Corporate Ethics

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13th July 2012 16:42 - Professional Services

According to a new survey by law firm Labaton Sucharow, a quarter of senior executives see wrongdoing in the workplace as not only natural, but a key to success.

The study questioned 500 senior executives in the United States and the UK about ethical practises – a total of 26% of the respondents said they had observed or had firsthand knowledge of wrongdoing in the workplace.

In addition, 24% of the surveyants said they believed financial services professionals may need to engage in unethical or illegal conduct on order to be successful and climb the corporate ladder.

Furthermore, 16% of respondents said they would commit insider trading if they could get away with it, and 30% claimed the compensation plans they have in place with their company create pressure to compromise ethical standards or even violate the law.

Partner and Chair of whistleblower representation practice Labaton Sucharow, Jordan Thomas, commented on the findings: "When misconduct is common and accepted by financial services professionals, the integrity of our entire financial system is at risk."

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