The sanctions regime levied against Russia, and the role of global banks in geopolitical tensions between China and the West, demonstrate that the integrity of the financial system is essential to preserving national and global security interests. We cannot afford homegrown financial crises that jeopardize order, security, or institutional legitimacy.
Compendium
Jun 11, 2024In the banking sector, culture and conduct risk management is crucial for ensuring trust and stability. Recent guidelines from OSFI and initiatives by global regulators emphasize the need for robust oversight and proactive measures. Key areas include leadership, accountability, and behavioral risk assessment to foster a culture of trust and ethical conduct.
Compendium
Jun 07, 2023by Hank Huang
Compendium
Jun 07, 2023In many Western countries, a culture of compliance is important not only because of the threat of ruinous lawsuits and fines, but because of an implicit sense that the financial sector may have been given too much space to run in the first place. By finding the bad apples, lawmakers and regulators can hope to defend the interests of the existing economic order.
