Rogue Trader,

I think watching "Its a Wonderful Life" should clarify the meaning of business ethics in practice. Also watching "Rogue Trader" should clarify what happens when ethics is separated from business.

For more detailed and current analysis on ethics in the investment industry, check out our most recent publication on the subject, "Ethics and Financial Markets: The Role of the Analyst" http://www.cfapubs.org/doi/abs/10.2470/rflr.v8.n1.1