Culture is consistently seen as culprit amidst continuing risk governance failures among firms, as well as in troubling lapses on the part of the auditors and regulators relied upon to assure market integrity. Culture is thus considered to be a critical governance priority – for private and public entities equally – and particularly so in the financial sector.
Observations
Oct 04, 2024Last week, the European Central Bank (ECB) held a stakeholder meeting to discuss its consultative "Guide on governance and risk culture." In his address to that meeting, Frank Elderson, a Member of the ECB's Executive Board, emphasized that, despite the progress made over the first decade of European banking supervision, persistent weaknesses in governance remain.
Observations
Aug 08, 2024Last week, US Senate Banking Committee Republicans called for the withdrawal of the Federal Deposit Insurance Corporation's (FDIC) new corporate governance guidelines. They argued that the proposed rules, aimed at institutions with over $10 billion in assets, would undermine the safety and soundness of the US financial system.
