A series of briefings that take a "bite-size" look at international trends in different jurisdictions, drawing on Baker McKenzie's expert financial services practitioners.
This edition takes a bite-size look at culture as a means to tackle conduct risk across a number of jurisdictions, namely Australia, Hong Kong, Singapore, the United Kingdom and the United States. In recent years, there has been an increased focus on the importance of culture within financial institutions as a means of reducing conduct failings and better serving customers. Conduct risk represents systemic sectoral risk exemplified by LIBOR rigging, consumer product mis-selling and continuing money laundering scandals. In the light of the COVID-19 pandemic, with stressed markets and new working practices, regulators globally are paying special attention to this topic.