Starling was pleased to have had the opportunity to present its thoughts on bank culture and conduct risk management in Basel on March 27th. Joined by representatives from the Basel Committee for Bank Supervision, the Financial Stability Board, the Financial Stability Institute, and others with the Bank for International Settlements, Starling’s presentation was part of a series of seminars organized by the Committee on Payments and Market Infrastructures.
The presentation coincided with Starling’s release of the 2019 update to its annual Compendium, detailing regulatory priorities and activities worldwide around the supervision of culture and conduct related risks. As the report outlines, such risks, and the fallout that follows from risk management failures, has resulted in some $600 billion in fines and costs for the financial industry in the last decade. As such, these issues are now seen to represent a systemic risk with global implications.
Against the backdrop, it is important that international