Question

INVESTMENT BANKING QUESTION: (PLEASE MAKE A DETAILED ANSWER 7-12 sentences)

Suppose your managing director asked you to get information for them that you know is confidential and he/she should not have access to. What would you do?

Answer 1

If someone asks of any confidential information, he should be told that the information is confidential and is accessible only to select few people and you cannot be give access to this information. If this policy of confidentiality is put away with in this case, then everyone would want information and no information would remain confidential. Information should only be provided on a need-to-know basis and whether the person is eligible for the information. Financial firms rely on the data integrity and secrecy of the client's data. If it gets publicly known that the firm is not complying with the confidentiality guidelines then there will be a lot of reputation risk for the firm and the clients might stop using the services of the firm.