PHILADELPHIA -- To his friends, Mark Schwartz is a Wall Street whistle-blower who was punished for questioning his firm's political practices.

Arbitrators from the National Association of Securities Dealers have taken a different view. In May, they unanimously rejected his claim that Prudential Securities fired him in 1989 because he complained that investment bankers were threatened if they did not make campaign contributions needed to win bond business.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.