“Regulators have been saying consistently that culture shapes conduct,” former FINRA head Rick Ketchum notes. [See also in the article What Happens Next?] “The protections of a strong risk and compliance culture are clearly even more important in the supervisory context today. So, it just stands to reason that, going forward, regulators will pay even more attention to these cultural issues in the current environment.”
But what’s good for the goose is good for the gander, as the saying goes. Regulators are also coming under scrutiny and are facing questions—from legislators and voters—about the outcomes that they permit to take place on their watch, and how their own cultures contribute to the success or failure they achieve in safeguarding public interests.
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion