The idea that compliance will take a dive in importance due to a changed US administration is laughable, if it were not affecting some normally quite sane people. It is true Donald Trump seems no fan of compliance and has gone on the record as saying the Foreign Corrupt Practices […]
Tag: regulators
Culture—still the ugly ducking of financial services
What keeps IT experts in financial services, up at night? It’s the sheer volume of regulatory reform entering their lives. This is according to a new study by the Economist Intelligence Unit. Their “greatest worry” is coping with the changes. And not far behind as a concern is the […]
Time to change gear—from compliance to culture
Companies wanting to make compliance work now need to go beyond it. Mounting pressures from various quarters are starting to make even the most resistant leader, manager and financier aware of the serious limitations of what we can call conventional compliance . Until recently though, anyone with the temerity to […]
Why breaking up banks could be good for bank ethics
News that J.P.Morgan Chase is calculating the costs and benefits of breaking itself up has little to do with bank ethics. Yet better ethical behaviour could be one of the real gains from such an action, which is also apparently being considered in regulatory circles for other big banks too. […]
Another fine mess you’ve gotten us into
What’s another €94m fine between friends? The latest penalties on several banks for fiddling interest rates by running a cartel, is hardly the stuff of headlines. J.P. Morgan, no paragon of ethical performance in recent years, must pay €61m for crooked behaviour involving Libor, from 2008-9. Yet can you envisage the […]
Report says more needed to promote diversity and inclusion
Diversity and inclusion programs (D&I) continue to gain strength. Many go well beyond concepts of race and sex. They include sexual orientation, national origin and religion. Efforts to create diverse corporate cultures of inclusion have two important implications. The first shows a company is willing to win the benefits from […]