A new study of 500 senior financial service professionals in the United States and United Kingdom by the law firm Labaton Sucharows found that 24% of those questioned believe that they "may need to engage in unethical or illegal conduct to be successful."
The firm also found that:
39 percent of those questioned reported that their competitors likely engaged in illegal or unethical activity in order to be successful;
26% of respondendent say they had seen or had knowledge of illegal or unethical behaviour;
30% of the participants feel pressure to engage in such behavior because that is how their compsenation plans incentivize them;
16% said they would participate in Insider Trading if they knew that they would not get caught.
"It is shocking that four years after the global economic crisis began there continues to be a fundamental lack of integrity in the financial services industry," stated Chris Keller, partner and head of case development at Labaton Sucharow.