Firms and regulators in every major market are asking how their culture can work to optimize performance outcomes and mitigate risks — or the reverse. The stories we observe here highlight global trends among those who are succeeding and those who are struggling, with attention to lessons being learned along the way.
18th Jun, 2021
After Credit Suisse lost $5.5 billion due to the collapse of Archegos Capital Management, many questioned the bank's risk management processes. While Credit Suisse allowed…
17th Jun, 2021
The Bank of International Settlements (BIS) recently opened a London innovation hub in collaboration with the Bank of England. This is the fourth innovation centre…
16th Jun, 2021
In the wake of the Australian Transaction Reports and Analysis Centre's (AUSTRAC) announcement that it was ramping up its investigation into the anti-money laundering compliance…
15th Jun, 2021
Mervyn King, chair emeritus of the International Integrated Reporting Council, argues in a recent Financial Times piece that companies will have to transform their corporate…
14th Jun, 2021
Australian regulator, AUSTRAC — a money-laundering watchdog — has acted in recent weeks to challenge related risk management failures at a number of firms. Notably…
8th Jun, 2021
A recent report by the Institute for Public Policy Research (IPPR) concluded that a "culture of fear" dominates at accounting firms, preventing junior auditors from…
7th Jun, 2021
Kathy Matsui, the former vice-chair of Goldman Sachs Japan, launched a venture capital fund to help startups enhance ESG values in early June. The fund…
4th Jun, 2021
In a recent speech, Suzanne Smith, Executive Director Superannuation Division Australian Prudential Regulation Authority (APRA), offered a perspective on culture and conduct risk governance, to…
28th May, 2021
Recently, Germany’s largest lender promised to raise the share of women among its roughly 600 most senior executives to at least 30% by 2025, up…
25th May, 2021
Australian financial regulators ASIC and APRA will now be subject to oversight from an independent authority after it was determined that the relevant parliamentary committees…
7th May, 2021
The Monetary Authority of Singapore (MAS) will commit S$42 million for the new regulatory technology (RegTech) grant scheme while enhancing the Digital Acceleration Grant (DAG)…
5th May, 2021
In a recent speech, UK Financial Conduct Authority (FCA) Executive Director of Enforcement and Market Oversight,Mark Steward, outlined the key aims of the UK’s Senior…
3rd May, 2021
Australia Prudential Regulation Authority (APRA) Chair, Wayne Byres, recently delivered a speech to the Committee for the Economic Development of Australia on relevant issues in…
30th Apr, 2021
Image credit As he takes up chairmanship of Credit Suisse, António Horta-Osório will be expected to focus on an overhaul of the beleaguered firm's risk…
21st Apr, 2021
Bafin, the German financial regulator, is facing a criminal probe into its oversight of Wirecard AG. Investigators will explore allegations that some of the agency’s…
16th Apr, 2021
Dr. Marcus Pleyer, President of the Financial Action Task Force (FATF), has called upon the G20 to lead a change in regulatory culture in the…
7th Apr, 2021
Credit Suisse’s chief executive had a blunt message for his bank: it has an attitude to risk that needs to change. However, since Thomas Gottstein…
5th Apr, 2021
Image Credit German Finance Minister Olaf Scholz wants to reform the Federal Financial Supervisory Authority (BaFin) at a fundamental level, to make the regulator more…
31st Mar, 2021
It is increasingly acknowledged that employee behavior is often a root cause of operational risk in the financial industry. But such behavioral risk is less…
29th Mar, 2021
In an effort to address criticism about the speed of its response to past reports of misconduct, and a failure to shield whistleblowers adequately, the…
