It is no longer acceptable for firms and their leaders to remedy misconduct after the fact. Instead, they are increasingly expected to prevent misdeeds or mishaps from occurring. This push comes both from aggrieved shareholders, tired of bearing the attendant costs, and in the form of regulatory and legislative requirements that seek to establish a ‘duty’ to prevent stakeholder harm.
Observations
Oct 23, 2023Earlier this month, the Financial Stability Board (FSB) published its report of "lessons to be learnt" from the failure of Credit Suisse. Therein, the FSB addresses tensions at the heart of Swiss regulators' decision to use public money to back the emergency rescue of Credit Suisse.
Compendium
Jun 07, 2023Observations
Nov 15, 2022Last month, the US Department of Justice (DOJ) issued a statement, promising to attend more closely to the interests of victims when negotiating criminal settlements with corporations. That same day, a federal judge ruled that prosecutors had impinged on the rights of those killed in two Boeing 737 Max crashes. The prosecutors had negotiated a Deferred Prosecution Agreement without first securing the consent of the bereaved families.
Observations
Aug 08, 2022