Last few years we saw many scandal from Financial Analyst, Corporate Executives, Accounting Firm and Politician who tied to the Wall Street for their own financial benefits. We also saw some of them get punished. Due to this problem, Law enforment reform the law such as Sarbanes-Oaxley, Earning Statment signed by CEO/CFO etc. But this is what we know now. Is it enough? We don't know until another scandal comes out.
Did we know that Doctors also come into this cateogory. You bet.
Today, American Socity of Clinical Oncology found many doctors are involved with Wall Street/ financial link with the company for their drug research. ASCO now requires the doctor to disclose this financail link if any. Just like, you see on television, when some analayst recommend stock, they disclose that they own or do not own the stock of the company he/she talking about.
The updated disclosure policy, among the most strict of any medical group, says cancer physicians must disclose all consulting or advisory arrangements they have with either investment or commercial interests.
For more detail check out this article from bloomberg.
Right now one question comes into my mind, who will be the next?
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