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Thoughts, and Observations

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Credit Suisse Lurches from Crisis to Crisis

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…

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Germany’s BaFin after Wirecard: Reforming the Regulator

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…

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Behavioral Science & Risk Management at ING

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…

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UK FCA Calls on Whistleblowers

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…

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Behavioral Science Gains Traction in Bank Risk Governance

22nd Mar, 2021

The application of behavioral science to mitigate operational risks in the financial sector is gaining traction. Early innovators in applying behavioral risk within their organizations…

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UK FCA Charges NatWest with Risk Management Failures

19th Mar, 2021

The U.K’s Financial Conduct Authority has filed criminal charges against National Westminster Bank for allegedly failing to prevent money laundering. The proceeding is the first…

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Singapore: Corporate Scandals Drive Focus on Risk Oversight

17th Mar, 2021

Image credit A series of scandals at Singapore-based companies has regulators tightening oversight and pushing for more risk disclosure. At stake is the city-state’s role…

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The UK SFO Gets Serious about Preventing Misconduct

15th Mar, 2021

The U.K. Serious Fraud Office (SFO) — the country's major economic crimes investigative agency — is taking steps to emphasize the need for companies to…

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Irish Regulators Continue to Confront Misconduct

10th Mar, 2021

In the wake of an investigation into misconduct at Irish financial services firm J & E Davy, conducted by the Central Bank of Ireland (CBI)…

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Singapore Studies Trust in its Banking Sector

8th Mar, 2021

The Association of Banks in Singapore (ABS) has found that 63% of those who participated in a poll report a high level of trust in…

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Singapore Banking Leaders Highlight WFH Risks

6th Mar, 2021

Image credit The Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS) have jointly published a paper on managing new risks…

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Australia to Promote Whistleblowing to Curb Financial Sector Misconduct

4th Mar, 2021

The Australian Securities and Investments Commission (ASIC) recently released an immunity policy for serious offenses, including market manipulation. Under ASIC’s new immunity policy individuals who…

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Harnessing Psychological Safety to Overcome Lockdown-Fatigue

1st Mar, 2021

Image credit Many staff at financial companies have been working from home in an effort to fight the COVID-19 pandemic. Now, the staff at financial…

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Register to Join a Discussion on Risk Management with Australia’s FINSIA and NAB

23rd Feb, 2021

Banks and financial institutions across the world have been facing persistent reputational difficulties, triggered by a series of misconduct events. A firm's culture is now…

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Covid makes Culture Critical

19th Feb, 2021

As COVID-19 has shifted how leaders interact with employees, and how coworkers connect with one another, company culture has grown in importance. Recent, high-profile culture…

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SEC to Step up Enforcement Efforts

16th Feb, 2021

The U.S. Securities and Exchange Commission (SEC) will give enforcement staff greater powers to launch investigations at firms, in a sign that the agency plans…

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Regtech Initiatives at Australia’s ASIC

16th Feb, 2021

In a recent report, the Australian Securities & Investments Commission (ASIC) explores how the RegTech market is developing in terms of speed, size, and capability…

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Credit Suisse Accused of Willful Blindness to Fraud

16th Feb, 2021

Bank regulators show little patience with willful blindness to misconduct. In a recent example, Swiss regulators have sanctioned Credit Suisse, where executives appear to have…

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Wirecard Scandal Drives Reform of German Bank Regulator

15th Feb, 2021

As part of a wide-ranging reform triggered by the Wirecard scandal, Germany will create a special financial task force responsible for forensic audits of companies…

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UK Directors Face Tough New Liability Rules

12th Feb, 2021

Directors will be held personally responsible for the accuracy of their company’s financial statements — and may face punitive fines and industry bans in the…

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Citi: New Team to address Risk & Accountability

11th Feb, 2021

Jane Fraser, incoming chief executive at Citi, has created a new global operating team aimed at improving risk management and individual accountability among its top…

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Starling Advisor James Freis on Lessons Learned at Wirecard

9th Feb, 2021

Starling Advisor's James Freis was pleased to join Wirecard, where he hoped to help lead the company in promising new directions. Due to join the…

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Amy Edmondson: A Time for Trust

8th Feb, 2021

Our advisor, Harvard’s Amy Edmondson, recently contributed to an article on MIT Sloan, in which she highlights issues around leadership and public trust. Given the…