Scandalously in my opinion, a giant loophole in Cisco's Financial Officer Code of Ethics allows Cisco's top executives to knowingly and willingly leak Cisco's pending financial results.
Earlier this week, USA Today reported that the vice president and general manager of Cisco's Connected Energy Networks business unit, Lionel Chocron, knowingly and willingly leaked Cisco's pending financial results to convicted insider trader, Wesley Wang.
According to the report, Cisco stated that its top Connected Energy Networks VP, Lionel Chocron, violated no ethics policies at Cisco when he knowingly and willingly leaked Cisco's pending financial results.
Upon reviewing Cisco's Financial Officer Code of Ethics document (revised - February 2012), it appears Cisco's top executives have given themselves a giant loophole to knowingly and willingly leak Cisco's pending financial results, so long as those leaks are not used for their personal advantage.
The Cisco Ethics Decision Tree:
Obviously, Wall Street's insider traders must be pleased with Cisco's Financial Officer Code of Ethics document, however, I wonder if investors are?
