Since the financial crisis, regulators have increasingly focused on banking culture as a means to manage misconduct risk. Despite the lack of a consensus as to what form that should take, at the opening of 2018 the pace of change is, if anything, increasing. Today, regulators around the globe are now actively pressing for new solutions.
In this blog post, Paul Weiss’ Financial Institutions Practice group highlights a number of themes raised by regulators and outlines recommendations for banks to further reform culture and address misconduct risk.
Starling is co-hosting a symposium titled Bank Culture Reform & Behavioral Science with Thompson Reuters on April 9th in NYC that will address these issues. In conjunction with that event, Starling will also be releasing a comprehensive compendium that summarizes regulatory approaches across the world.
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