by Bill Singer
Reuters' Emmanuel Olaoye Authors Compelling Article on Retaliation Against Compliance Officers
February 9, 2012
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.