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A Costly Train Journey (A)

Published 26 Mar 2015
Reference 6119
Region Europe
Summary

Costly Train Journey (A) tells the story of an MBA student who on graduation started an investment banking job in the City. He was successful in his first few years but commuting into London he continued to dodge the train fare until he was caught by ticket inspectors. He was asked to pay £43,000 in avoided fares or face prosecution. Costly Train Journey (B) reveals that the (A) case is based loosely on the experience of Jonathan Burrows a Managing Director at Blackrock Asset Management. Investigated by the Financial Conduct Authority, Burrows was judged to have failed its "fit and proper" test and banned from working in financial services.

Teaching objectives

1) To examine the conduct expected of investment bankers and other business professionals, on and off the job. 2) To consider the appropriateness of punishment for misconduct in a non-work context. 3) To explore business ethics more generally, including arguments for and against ethical relativism.

Keywords
  • Personal misconduct
  • Financial Conduct Authority
  • Investment banking
  • Business ethics
  • Ethical relativism
  • Sanctions for misconduct
  • Train fare dodger
  • Fit and proper test
  • Q31415
  • Corporate Governance
  • Auditing, Risk Control and Performance