Ogier's head of Risk and Compliance, Peter Derrick, has
highlighted issues around 'conduct risk' – that is,
how employees conduct themselves in public and on social media when
representing a company – and how that risk can be
Speaking to BL Magazine this month (October), Peter emphasises
the need for staff to resist discussing client matters out of the
office, ensuring a firm's approach to media and social media is
well managed, and instilling a culture of responsibility.
'I often use the example of HSBC staff who went go-karting
in Birmingham this year,' said Peter.
"They dressed in balaclavas and thought it would be funny
to take a picture of themselves performing a mock beheading of an
Asian colleague wearing a jumpsuit.
"The image was posted on Twitter, and it went viral.
It's a very good example of what can go wrong when people
misuse social media; whether they believe they are 'just
joking' or not."
It's not just use of social media that needs careful
consideration, says Peter.
"Execs go out for a drink, have some beers and can happily
chat away," he adds in this month's BL Magazine. "But
you never know who's listening. It's the same with airport
lounges – you don't know who's looking over your
shoulder as you read confidential papers."
His advice is that staff should not discuss client matters, or
any other sensitive topics, out of the office. And to manage the
online environment, where comments can be anonymous and posts can
quickly spread around the internet, Peter advocates a culture of
risk management where roles and responsibilities are clearly
understood and responses are swift.
"If someone is having a go at you or your company over the
internet, you have to co-ordinate any response to that and
carefully manage the process," he adds. "It's the
same with the media. A quick response is often necessary, and that
it's dealt with by one person, with a properly co-ordinated
response. For everyone else the simple answer is 'no comment.
When you're with friends and family, it's even more simple
– you shouldn't talk about anything to do with clients at
Confidentiality of corporate documents and information is one of
the key attractions of incorporating a company in the BVI. A
company search of the BVI Registrar of Corporate Affairs will only
disclose certain information and documents.
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