Emmanuel Olaoye (with additional reporting by Julie DiMauro and Stuart Gittleman) published a excellent article today on Reuter's "Financial Regulatory Forum": Evidence, access aid job security when compliance staff raise a red flag (Thompson Reuters Accelus, February 9, 2012). Olaoye discusses the "job-security perils faced by compliance officers and others who sound alarms at company practices," in reporting about the recent MF Global congressional hearings and recent court rulings on whistleblower protections. The article warns that "Potential retaliation goes with the territory. Compliance and risk officers, who perform internal watchdog functions, need to know how to escalate potential problems before they become violations, and they must fully understand how to use internal and external reporting channels.
An excellent examination of the issues and a must-read for all Wall Street compliance professionals.
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