The Vanguard Group, the world’s largest mutual fund company, fired a whistle blower who shared information with TheStreet about deficiencies in the company’s customer account security, according to a story.
Susan Antilla of TheStreet writes, “According to the public database of stockbroker records kept by The Financial Industry Regulatory Authority, or FINRA, Karen Brock, a client relationship administrator in Vanguard’s Scottsdale, Ariz., office, is no longer employed by Vanguard or registered as a broker.
“FINRA’s public records said nothing about the reason for Brock’s termination. But an unredacted version of her records supplied by a state securities regulator said that she had been discharged for ‘violation of Vanguard’s Professional Conduct Policy.’
“The state records said that her last day at Vanguard was Aug. 27, 2015. Brock said in an interview that she was on family medical leave when she was fired.
“Asked whether and why the firm had fired Brock, Vanguard spokeswoman Arianna Stefanoni Sherlock said in an email, ‘I can’t discuss a personnel decision.’ Sherlock had said in an earlier interview that the firm investigated Brock’s claims and remained ‘confident in our security practices and our efforts to keep our clients’ information and their assets safe.'”
Read more here.
