March 01, 2018

Bloomberg: Elizabeth Warren Wants Wall Street to Have a #MeToo Moment

Senator Elizabeth Warren wants regulators to make sure Wall Street doesn’t dodge the #MeToo movement.

Warren, the finance industry’s leading critic in Congress, asked the Securities and Exchange Commission what it’s done to ensure banks have established policies and disciplinary systems to prevent sexual harassment. The Massachusetts Democrat and two other senators also asked the Financial Industry Regulatory Authority, which oversees broker-dealers, for data on the prevalence of abuse in the industry.


“The world of finance is not immune from this harassment,” said the letters, which were co-signed by Warren, Nevada Democrat Catherine Cortez Masto and California Democrat Dianne Feinstein. “The silence appears to result from strong ‘cultural and financial forces’ in the industry that discourage speaking out, including the payout of large settlements with nondisclosure agreements to harassment victims, class-action prohibitions, and forced arbitration.”

Read the full article on the Bloomberg website here

By:  Benjamin Bain
Source: Bloomberg