The conduct risks that follow from organizational culture are not typically treated as matters of prudential concern, impacting the safety and soundness of the financial system. Yet, as Credit Suisse attests, deposit flight is rapid when customers and investors lose faith in management, and this faith can be lost after persistent misconduct scandals. As such, conduct risk governance is an underappreciated prudential matter.
Observations
Sep 09, 2024According to an exclusive report by the Australian Financial Review's Jonathan Shapiro and Lucas Baird, the Australian Prudential Regulation Authority (APRA) had repeatedly warned ANZ about deficiencies in its culture and risk management in the lead-up to its recent action against the bank.
Compendium
Jun 11, 2024Compendium
Jun 11, 2024by Elise Bant
Compendium
Jun 11, 2024Compendium
Jun 11, 2024The United Arab Emirates (UAE) has long struggled to rehabilitate its reputation as a safe place for criminals and other bad actors to store illicit funds. This has become especially important in recent years, as global scrutiny on anti-money laundering practices has increased in the wake of Russia’s invasion of Ukraine and the unprecedented sanctions regime that was put in place in response.
by Stephen Scott, Randal Quarles, Margaret E. Tahyar
Compendium
Jun 11, 2024by Stuart Mackintosh, Peter Routledge, Sharon Donnery, Bryan Stirewalt
Compendium
Jun 11, 2024
