Regulators have embraced senior manager accountability, to ensure clear consequences when executives neglect risk governance. At the same time, they encourage psychological safety to promote ‘speak-up’ behavior within firms. So long as these are in balance, they mutually reinforce each other. However, when accountability regimes become more about public shaming, the dampening effect that it has on speak-up culture may well exceed any potential benefit.
Observations
Apr 01, 2025The UK Financial Conduct Authority (FCA) recently banned Crispin Odey, founder of the defunct Odey Asset Management, from the financial sector and fined him £1.8 million for displaying a "lack of integrity" in his conduct.
Compendium
Jun 11, 2024Learn about the latest global developments and trends in managing and regulating culture and conduct risk. The Compendium is broken out by global regions and specific national jurisdictions in each. Where it is helpful, we highlight specific regulatory or supervisory agencies, standard-setting bodies, and other industry organizations of relevance.
by Carine Smith Ihenacho, Nicolai Tangen
Compendium
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Compendium
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Compendium
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