24pc of Wall Street execs consider unethical conduct 'key to success'

New York, July 11 (ANI): Unethical behaviour and Illegality seem to be part of the Wall Street job description, according to a new study.

A survey conducted on senior executives in Britain and U.S. found that 24 percent senior executives consider that unethical or illegal conduct is needed for success in the financial world.

The survey also found that while 30 percent felt pressure over salaries to compromise their ethics, 16 percent said they'd commit insider trading if they knew they could get away with it

Another 26 percent said they had either seen or had direct knowledge of wrongdoing.

Worse, 16 percent of execs admitted they would willingly step over the legal line and commit insider trading - if they knew they could get away with it.

Results of the study, commissioned by law firm Labaton Sucharow, were compiled by anonymously interviewing 500 financial professionals online.

"It's hard to understand how someone could have this sort of world view, but what's clear is that it is widespread," the New York Daily News quoted Jordan Thomas, chairman of the whistleblower representation practice at Labaton Sucharow, as telling the Daily News.

"The financial services industry does not yet have a proper fear of (government) regulators," Thomas said.

The study also found that 30 percent of respondents felt pressured by their big-buck salaries and bonuses to compromise their ethics or even break the law.

And nearly four in 10, or 39 percent, felt that their competitors are likely to engage in illegal or unethical activities to get ahead. (ANI)