Am I Totally F*cked??
Long story short - uploaded a VERY sensitive doc revealing top customer analysis to the VDR today.. It was obviously only supposed to be accessible to our client (who also has access), not interested targets. And before you ask, the file was too big to email.
About an hr later I get a call from a snobby guy at a PE firm thanking me for the data and they are likely dropping out.
I have since removed the doc but am 110% sure they will hand the info over to one of their port co's and steal the top customers as our client is almost a direct competitor. NDA is signed but pretty sure it won't matter.
Haven't told the boss, or more importantly, the key shareholder yet. Not sure how the hell they got access to it.
On a scale of 1 to 10, how fucked am I??
Should I quit? Get fired? Will I be sued? move to Mexico??
thx WSO - (alias username)
you need to tell compliance and your boss IMMEDIATELY. The fact it wasn't already done is a huge issue. And quitting could result in them suing you. Do not quit, you need to contact the proper respective parties so they can attempt to recover from it.
holy shit
link
then, remove this thread
boss and compliance ASAP. They will request all hard copies back and to delete soft copies but it is likely too late. This could be a shit-storm so just be prepared for it to blow up.
I don't work in your industry but this sounds really really bad.
1-10? In the negatives. Wouldn't want to be in your situation.
You shouldn't have waited, in all honesty. If you went to your boss and compliance immediately, they could've tried to mitigate it. Holding out on that info just looks really, really bad...
Yeah you really fucked up by not bringing this up immediately. The best way to minimize the damage is to own the mistake IMMEDIATELY. I mean you'd still be fucked, but more like world's-worst-ass-chewing fucked vs fighting-off-bums-at-the-unemployment-office fucked
Talk to your boss immediately, be honest/open about what happened, and hope for the best. Good luck man.
damn... well, keep us posted
Since the file is gone, isn't it better to just not say anything and act dumb? Honestly investment banks are retarded and may not figure it out. You will likely get fucked for owning up to it - people aren't nice in this industry.
And you will SURELY get fucked HARDER later for not owning up to it.
So, you want to just pretend like nothing happened to save yourself from getting in trouble in the short-term and risk getting torn a new one when it is found out eventually? It doesn't matter that he took the file off and it's not on there now, there are always traces and IT WILL be traced back if someone wants to look into it. Once that happens, the punishment you would've received if you fessed up immediately versus that of which you'd get after they uncover what happened will be a slap on the wrist, comparatively, since they will know you were trying to hide it and there wasn't any possible way to mitigate what they had they known earlier.
Oh, and not to mention, that one guy at a PE firm called OP directly, to thank him for the mistake. So someone other than the OP already knows about this. You really want to take the bet that this won't get out or be traced back? Your thinking seems really naive, immature, and unethical at best.
Jesus, remind me to not take your advice. Ever.
Let us know if they have internet in prison.
Daaaaamn. BTbanker is sa-ssy!
You always have something witty to say. Keep it up.
now I understand why there's an ethics section of the cfa
Depending on which data room provider you use, some may have the ability to 'recall' all soft versions of the file... At the very least, that would help you and your group get rid of the soft versions of the file, but first things first, please bring it to the attention of your team/compliance/i don't even know who.
Trust me, you're not the first person to have done this. Happened in one of my group's recently. Was on the other side of the table when a kid at GS did it.
Go to your immediate superior first, talk it through and keep your chin up. You're going to get a good spanking, but you're not going to jail. Don't move to Mexico, they extradite...just kidding. You're fine.
OP is really in trouble. Chances are, the client will claim damages from his/her investment bank due to this breach of NDA (in case it becomes known).
I sure hope OP didn't post this thread from his work computer too.
After reading this I quickly checked my own VDR to make sure I was not equally f#*cked. After seeing that I had properly checked off all the proper permissions on IntraLinks I had a nice chuckle. Then I proceeded to RSVP to their sick Holiday Party this year.
Data Breach. It happens. Just go and tell your supervisor, then contact compliance if necessary.
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