A quarter of Wall Streeters have signed gag orders

Jonathan Marino

The practice might not be part of Wall Street culture for long.

Earlier this year, the SEC cracked down on one company that forced employees to sign what it called "restrictive" non-disclosure agreements.  

It's part of an ongoing back-and-forth between financial services firms and the Securities and Exchange Commission, which, in the wake of scandals like Bernie Madoff's ponzi scheme, sought to better incentivize cooperation from tipsters. 

The survey, conducted by law firm Labaton Sucharow and the University of Notre Dame, highlights confidentiality agreements that may be unenforceable becoming common on Wall Street and elsewhere in the financial services sector. Their survey quizzed more than 1,200 financial services employees in the US and the UK. 

NOW WATCH: How the stars of AMC's blockbuster 'Mad Men' changed over the years

See Also: