- Shining a spotlight on the culture of financial services firms
- Financial services is a heavily regulated sector, why do scandals involving mis-selling, rate fixing and so on happen time and time again?
- Following the financial crisis, there has been a lot of talk about image changes in the sector and a new and better banking sector, but has the culture in banks really fundamentally changed?
- Is the regulatory system as it is set up at the moment equipped to adequately deal with the financial services industry? Do they have the power and ability to act pre-emptively?
- Can you think of any rules/changes to current law and regulation that might help tackle the problems?
- What are the trends in this area? Do you have any predictions for the future?
Financial Services analysis: Andreas White, employment partner, and Julie Matheson, regulatory and professional discipline partner, at Kingsley Napley LLP, say that real efforts have been made to implement cultural change in the complex financial services sector, but a raft of new regulatory reforms now need to bed in.
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