There is no exception from the at-will employment doctrine for the chief compliance officer of a hedge fund who claims he was fired because he questioned the ethics of his boss’ trading activities, a unanimous appeals panel in Manhattan ruled yesterday.
“As hard as it may seem,” Justice Eugene Nardelli (See Profile) wrote for the Appellate Division, First Department, the compliance officer at Peconic Partners can be fired despite his position and the firm’s ethics code which requires its employees to “determine” whether the code has been violated “on pain of termination.”
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]