UK:
Establishing A Risk Intelligent Culture In Financial Services
To print this article, all you need is to be registered or login on Mondaq.com.
Background
The attempted manipulation of the London Interbank Offered Rate
(LIBOR), the Madoff fraud, Payment Protection Insurance (PPI)
mis-selling and numerous cases of 'rogue' trading have
revealed poor risk management and questionable values and
behaviours within the industry.
Financial services boards now accept the need for change.
Indeed, many recognise that risk management processes are only as
good as the people operating them, and that behaviour is strongly
influenced by culture.
Key findings
This article sets out:
- What the desired risk management values and beliefs
and the right risk management behaviours look like;
- Why it is so hard to put this vision into practice; and
- How to overcome some of the key obstacles.
Download
POPULAR ARTICLES ON: Finance and Banking from UK
Asset Recovery Comparative Guide
Bird & Bird
Asset Recovery Comparative Guide for the jurisdiction of UK, check out our comparative guides section to compare across multiple countries
Q&A: Safe Harbours For VASPs - Part 1
Ogier
Asian Legal Business was keen to hear from our experts on how this will allow virtual asset services providers (VASPs) to anchor in theses jurisdictions, despite increased regulatory burdens...
Q&A: Safe Harbours For VASPs - Part 2
Ogier
In 2023, Jersey and the British Virgin Islands passed legislation indicating they were welcoming virtual asset service providers, joining the likes of the Cayman Islands...
CRD VI And Its Impact On Lending Into Europe
Cadwalader, Wickersham & Taft LLP
December 2023 saw the publication by the EU of the near-final version of its ‘Banking Package' that makes significant changes to the Capital Requirements Directive known as ‘CRD VI'.
Financial Promotion Exemptions – UK Government U-Turn
Shepherd and Wedderburn LLP
In response to criticism, the UK Government announced in the 2024 Spring Budget that recent changes to the financial promotion exemptions eligibility criteria would be partially reversed from 27 March 2024.