Jail for the head of McKinsey for insider trading.
I think it's a question of what is ethical here. In India we always
give away privilege information without even thinking twice about it.
We have no respect for propriety in these times. If someone asks us
about someone, we give the bad first and the good if at all. Gupta
must have said something in private and then it was picked up. We live
in a loose moral and ethical times while we are dealing with countries
which have a stricter code of morals. It's in our interest that we
update with the times and go along with what is ethical and moral
before it is too late.
Increasing globalisation necessitates more discretion in our business
dealings. Something which is ignored in organisations these days. Thus
you can find even established organisations running on pirated
software and where copyright rules are flouted without scruples. I
would even say our corporatedom is walking on the dangerous side.
Consider for example these facts: a foreign multinational will never
ties-up with an organisation if it is found to flout ethical laws.
Many Indian organsations are in the dark about this aspect. The
management is unaware because there aren't the usual ethical checks
and balances. For example go to the chat pages or forum pages of
investment websites in India and you will find all sorts of insider
tips being leaked there.
Let the MacKinsey case be a lesson. We need to educate our people on
the ethical aspects of doing business in a modern world.