Tuesday, February 22, 2011

From the highly principled world of business

News item from Financial Times
Hedge fund managers are hiring security firms to sweep their offices and homes for listening devices, security experts say, in reaction to the US government’s insider trading investigations.

“Over the past six months, there has been a really heightened interest in electronic sweeps for hedge funds,” said Christopher Falkenberg, founder of Insite Security, a security and risk management firm in New York. “They’re working harder at clamping down on their information security and making sure the telephones are secured and the offices aren’t being bugged. We’ve also been asked to sweep traders’ homes.”
My question:
Why not "working harder at clamping down on unethical and illegal behavior and making sure staff is honest, principled and working within the law?"
If an SEC investigation makes you tremble, your business practices are defective.
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2 comments:

  1. Well said Norm! If these guys were as abouve board as they always say,then they shouldn't have a problem with the regulators poking around. In fact, they should be proud of it! My brother has his own business,and the reason he's successful is because he's trustworthy. To me that's the basis for a successful so-called free enterprise economy.

    ReplyDelete
  2. Yes. If you can't operate within the regulatory environment that exists and you need to "change" those regulations to be viable maybe your business plan is flawed. Maybe you aren't really all that smart after all if you have to rely on regulatory or cash incentives.

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