• Qui Tam
  • SEC
  • CFTC
  • FCPA
  • Whistleblower Resources
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
The Truth at Any Cost.
Qui Tam, Compliance and Anti-Corruption News.
SIGN THE PETITION FOR NATIONAL WHISTLEBLOWER DAY IN 2023
Whistleblower Network News
  • Qui Tam
  • SEC
  • CFTC
  • FCPA
  • Whistleblower Resources
  • FAQS
Subscribe
Donate
No Result
View All Result
Whistleblower Network News
No Result
View All Result
Home Corporate

Whistleblowing, over here and over there

Tinker ReadybyTinker Ready
October 10, 2019
in Corporate, EU Directive, News
Reading Time: 3 mins read
Whistleblowing, over here and over there
Share on TwitterShare on FacebookShare on LinkedInEmail

Almost all of the money management or securities firms on Wall Street “entrusted with the life savings of their clients lie, cheat and steal one way or another.”

Not the kind of thing you might expect to read in Forbes, but columnist and former whistleblower Edward Siedle offers a lively column this week inviting others in the finance industry to “join the whistleblower revolution.”

If you work on Wall Street in the money management or securities industries—like I used to—you should serious consider becoming an SEC whistleblower. Why? Because almost all firms in these industries that are entrusted with the life savings of their clients lie, cheat and steal one way or another. If you don’t already know this, you’re probably new to the business. You’ll find out soon enough, like I did early in my career as the Compliance Director of a global asset manager.

Support Whistleblower Network News

He writes that the terms “lie, cheat and steal,” are rarely heard on Wall Street.

Money management lawyers and securities regulators typically use sterile, colorless terms such as misrepresentations, failures to disclose and mischaracterizations as to the nature, sources and amounts of fees, conflicts of interest involving self-dealing and fiduciary breaches.

If you’ve been in the business long enough to believe that a misrepresentation or mischaracterization is not a lie, or that steering a client into an underperforming product that earns your firm more money is not cheating, or that using client assets for your benefit is not stealing, then it may be too late for you. I hope not.

  • Over in the EU they are just getting started, A new policy brief out of the National University of Ireland Galway offers this:

The incoming EU Whistleblowing Directive 2019 will require many organizations to make significant changes to protect whistleblowers against retaliation, establish confidential whistleblower channels and clear reporting processes. Organisations must implement arrangements now that enable employees to speak up about perceived wrongdoing. But how to go about this? This research examined key organizations in the finance, health, engineering and public sectors in several countries.

Also worth a look:

  • The BBC’s Business Daily Podcast on whistleblowing. “Outside the US, there remains precious little money on offer,” says host Ed Butler. Don’t do it for the money, says guest whistleblower.
  • Politico on the IRS whistleblower

Democrats, who disclosed the existence of the whistleblower as part of their lawsuit seeking President Donald Trump’s tax returns, have been vague about what the person is alleging, beyond that someone in the administration may have tried to interfere with an audit of either Trump’s or Vice President Mike Pence’s tax return.

 

Tags: EU whistleblower directiveEuropean Parliament
Previous Post

Outspoken workers from the shop floor to the C-suite are not always protected by whistleblower laws

Next Post

Opinion: Giant panda costumes aside, protecting intelligence community whistleblowers is serious business

Tinker Ready

Tinker Ready

In 2019, Tinker Ready was the editor-in-chief of the Whistleblower Protection Blog.  She has worked with whistleblowers throughout her career as a journalist and investigative reporter.  

Next Post
Opinion: Giant panda costumes aside, protecting intelligence community whistleblowers is serious business

Opinion: Giant panda costumes aside, protecting intelligence community whistleblowers is serious business

Please login to join discussion

Receive Daily Alerts

Subscribe to receive daily breaking news and legislative developments sent to your inbox.

  • This field is for validation purposes and should be left unchanged.

Most Popular

US Attorneys Reflect on UK’s Whistleblowing Awareness Week

OSHA Highlights Railroad Worker Whistleblower Protections in Wake of Train Derailments

AML Whistleblower Law Could Shift the Way DOJ Handles Whistleblowers

Two Powerful Women Whistleblower Pairs to Learn From This Women’s History Month

WNN Exclusive Interview with Social Security Whistleblowers Sarah Carver and Jennifer Griffith — Part 2

Change the Culture, Make National Whistleblower Day Permanent

Whistleblower Poll

Whistleblower Poll
Whistleblower Poll

Exclusive Marist Poll: Overwhelming Public Support Among Likely Voters For Increased Whistleblower Protections

byGeoff Schweller
October 6, 2020

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

STAY INFORMED.
Subscribe to receive breaking whistleblower updates.

  • This field is for validation purposes and should be left unchanged.

About Us

  • About
  • Contact Us
  • Donate
  • Careers

Subscribe

  • Daily Mail
  • Follow us on Twitter
  • YouTube Channel

Contribute

  • Letter to the Editor
  • Submission Guidelines
  • Reprint Guidelines

Your Experience

  • Accessibility Statement
  • Privacy Policy
  • Terms of Use

Help

  • The Whistleblowers Handbook
  • Frequently Asked Questions
  • Advertise
Whistleblower Network News

Whistleblower Network News is an independent online newspaper providing our readers with up-to-date information on whistleblowing. Our goal is to be the best source of information on important qui tam, anti-corruption, compliance, and whistleblower law developments. 

Submit an Article

Copyright © 2021, Whistleblower Network News. All Rights Reserved.

This Newspaper/Web Site is made available by the publisher for educational purposes only as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this website, you understand that there is no attorney-client relationship between you and the Newspaper/Web Site publisher. The Newspaper/Web Site should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.

SIGN THE PETITION FOR NATIONAL WHISTLEBLOWER DAY IN 2023
No Result
View All Result
  • Exclusives
  • Government
    • False Claims-Qui Tam
    • Federal Employees
    • Intelligence
  • Corporate
    • CFTC & Commodities
    • Dodd-Frank
    • IRS & Tax
    • SEC & Securities
  • Features
  • Legislation
  • International
    • Foreign Corruption
  • Rewards
  • Whistleblower of the Week
  • Environment & Climate
  • Opinion
  • Editorial
  • Employment
    • Sarbanes-Oxley Whistleblowers
    • Retaliation
    • OSHA
  • Media
    • Podcasts
    • Videos
    • Webinars
    • National Whistleblower Day
  • Whistleblower Poll
  • Whistleblower Resources
    • Frequently Asked Questions
    • Resources for Locating An Attorney
    • The New Whistleblowers Handbook
  • National Whistleblower Day ’23

Copyright © 2020, Whistleblower Network News. All Rights Reserved.

Become a Whistleblower Network News Subscriber

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Subscribe to WNN

Retrieve your password

Please enter your username or email address to reset your password.

Subscribe to WNN

Add New Playlist

Go to mobile version