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Andrei Postrado Ethical Issues

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Former KPMG tax accountant, Andrei Postrado, admitted to engaging in tipping ad insider trading. He admitted to earn a profit of $200,375 in 2015 by buying securities of three companies in advance of public announcements (Global). Andrei was employed in the real estate and construction tax department at KPMG LLP in Canada. His role in the company was to prepare tax returns for the corporate clients (Global). Andrei was not assigned to any deal team which invoked transactions respecting the Reporting Issuers (OSC). Upon overhearing a conservation between his manager and a partner about the company buying another entity, Andrei obtained confidential undisclosed material information of the entity. Moreover, Andrei opened an online discount brokerage account with BMO Investor Line and Questrade Inc and bought 2500 shares of the company to be acquired(OSC). After the public announcement was made, Andrei sold the securities he bought for a profit of $200,375. Moreover, Anderi also admitted to tipping confidential information to his father, Fernando Postrado, so he could earn some profit as well …show more content…

After reading the case of Andrei Postrado, I felt that Andrei breached his commitment of trust and confidence to KPMG by tipping his Father as well as by obtaining undisclosed confidential information. Moreover, there is also a conflict of interest, where for Andrei familial relationship is above than his commitment to KPMG. Additionally, Andrei has cheated where he got an unfair advantage of information that he was not supposed to use it for his own monetary gain. Cheating is unethical and specially for insider trading it should be considered illegal. The insider traders exploit the information they obtained to either reap monetary gain or to avoid heavy losses from unfavorable information

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