Survey Roundup: Wall Street Still Lacking Sense of Ethics; Wall Street Journal, 5/22/15

Ben DiPietro, Wall Street Journal; Survey Roundup: Wall Street Still Lacking Sense of Ethics:

"Ethics? What’s That?: A survey of around 1,200 financial industry professionals by law firm Labaton Sucharow found 25% of respondents said they would use non-public information to make $10 million if there was no chance they would get arrested for insider trading. Of those who make $500,000 or more a year, 34% said they have witnessed or have first-hand knowledge of workplace wrongdoing, while 27% said they disagree with the statement the financial services industry puts the best interests of clients first.

“Despite the headline-making consequences of corporate misconduct, our survey reveals that attitudes toward corruption within the industry have not changed for the better,” the survey authors wrote. “There is no way to overlook the marked decline in ethics and the enormous dangers we face as a result, especially when considering the views of the most junior professionals in the business.”

Aware But Unknowing: A survey of 652 chief financial officers by Ernst & Young found while 66% said cybersecurity is a top priority for them, 44% said a lack of understanding of IT is a barrier to crafting an effective cyberdefense strategy."