snitches get stiches
U.S. financial regulators are pushing to turn hedge funds into informers on the white collar crime beat. The Financial Crimes Enforcement Network (FinCEN) is working on a rule that would require U.S. hedge funds to file formal reports notifying U.S. authorities of any suspicious trading by employees or outside parties, the regulatory agency said. The rule being […]
Last week, we discussed the whistleblower payout awarded to Bradley Birkenfeld, a former UBS employee who single-handedly made the government’s case against the Swiss bank re: tax evasion, scoring the US between $780 million and $5 billion, depending on how much credit you want to give him. Earlier in the month, Birkenfeld secured a $104 million bonus from the IRS for his assistance, though only after a lot of hoop jumping, nearly three years in a federal prison, and several months in a halfway house, prompting us to wonder how much money, if any, it would take to get you to blow the whistle on some colleagues playing it fast and loose with the law,* if you would do time for it, and, if so, how much? Today brings one more issue to consider, should you be seriously considering teaching your coworkers a lesson they’ll never forget, which is: are you will to get your face rearranged and/or have your hand stapled to your desk?
Because it will probably come to that.
“The number one weapon used at work is the fist,” says Larry Barton, a professor and leading expert in workplace violence who estimates more than 1.2 million Americans were assaulted at work by a coworker in the past calendar year. The second most popular weapon? The stapler on your desk. A new report from the Ethics Resource Center shows that physical violence at work as retaliation against whistle blowing is on the rise. Since 2009, the percentage of people who’ve reported misconduct at work and were victims of physical harm jumped more than 25%. By these tallies, both fists and staplers have been getting quite the workout.
Just something to think about.
When Snitches Get Stitches: Physical Violence As Workplace Retaliation On The Rise [Forbes via Heidi Moore]
*Be it securities laws or simply workplace etiquette, i.e. don’t grab someone to chat for “just a quick sec” when they’re clearly heading out the door to flee this asylum for the night.
Earlier today it was reported that the Morgan Stanley employee who was helping Upper East Side madam and self-titled “CEO” Anna Gristina/Scotland expand her “empire” was a broker David Walker. Subsequently, some people showed up to one David Walker’s apartment for a comment on the matter. He told them 1) That contrary to various stories, […]
Working on Wall Street, odds are you’ve been informed by Human Resources of certain behaviors that are not (officially) tolerated by the firm, especially those that would fall under the umbrella of sexual harassment. The Do’s and Don’ts were probably reviewed in a training session or online on your own but for some people, who […]
The individuals who will have their names mentioned at a noon press conference are hedge fund manager Samir Barai of Barai Capital, Barai Capital analyst Jason Pflaum, former CR Instrinsic (a division of SAC) manager Donald Longueuil (most recently with Empire Capital) and former SAC PM Noah Freeman.
A few weeks before Christmas, documents were released by the government revealing that at least one of the cooperating witnesses in its Insider Trading Fest(ivus) was currently employed at a hedge fund. Some people said the CW was with Level Global. The firm assured clients earlier this week that after conducting “extensive internal factual correlation […]