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Financial Institutions Corporate Culture

DLA Piper

A Principles-Based Model for Modern Governance: COSO and NACD’s Proposed Corporate Governance Framework

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In May 2025, the Committee of Sponsoring Organizations of the Treadway Commission (COSO), in collaboration with the National Association of Corporate Directors (NACD), released a public exposure draft of a new,...more

Thomas Fox - Compliance Evangelist

10 For 10: Top Compliance Stories For the Week Ending June 7, 2025

Welcome to 10 For 10, the podcast which brings you the week’s Top 10 compliance stories in one podcast each week. Tom Fox, the Voice of Compliance brings to you, the compliance professional, the compliance stories you need to...more

A&O Shearman

ESAs publish guidelines on exchange of information relevant to fit and proper assessments in the official EU languages

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The European Supervisory Authorities (ESAs) have published joint guidelines on the system established by the for the exchange of information relevant to the assessment of the fitness and propriety in the official EU...more

Secretariat

Integrity and Accountability: Anti-Corruption Enforcement in Saudi Arabia

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As Saudi Arabia emerges as a global investment destination, it is essential for foreign investors, financial institutions, and legal and compliance professionals to understand the Kingdom’s anti-corruption initiatives,...more

A&O Shearman

UK authorities respond to Treasury Committee questions about Sexism in the City inquiry recommendations

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The House of Commons Treasury Committee has published letters from HM Treasury, the Prudential Regulation Authority and the Financial Conduct Authority setting out progress made to date in relation to the Committee's "Sexism...more

A&O Shearman

UK Financial Conduct Authority publishes guidance on firms' approaches to Consumer Duty board reports

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The Financial Conduct Authority has published its findings following a thematic review into firms' approaches to completing the first annual Consumer Duty board report. Under the Duty, a firm must prepare a report for its...more

The Volkov Law Group

TD Banks’ Pervasive and Systemic Criminal Misconduct (Part II of IV)

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“By making its services convenient for criminals, TD Bank became one,” Attorney General Merrick B. Garland. TD Bank joins the list of dysfunctional companies — add them to Wells Fargo, Wirecard, Volkswagen, General Motors,...more

A&O Shearman

UK Financial Conduct Authority Findings from Review into Firm Oversight of Appointed Representatives

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The U.K. Financial Conduct Authority has published its key findings, good practices and areas for improvement following a review of how principal firms are meeting the FCA's enhanced appointed representative rules that were...more

Stikeman Elliott LLP

OSFI Releases Finalized Integrity and Security Guideline

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On January 31, 2024, OSFI released its finalized Integrity and Security Guideline (“Guideline”). The Guideline is a result of the extension of OSFI’s mandate, as of January 1, 2024, to include the oversight of integrity and...more

Stikeman Elliott LLP

OSFI’s Draft Security and Integrity Guideline: What’s Expected of FRFIs and When?

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On October 13, 2023, OSFI released its draft Integrity and Security Guideline (“Guideline”). The Guideline, which would layer new and expanded expectations over existing applicable guidance, would apply to all Federally...more

Ankura

Non-Financial Misconduct: Will The Crispin Odey Case Reshape Investigations Into Behavioral Misconduct for the Financial Services...

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It has been a summer of revelations leaving the financial services sector facing uncertainty and increased scrutiny on how allegations of behavioral misconduct might be managed going forward. This came after multiple...more

Littler

Regulatory Roundup – Key Developments in UK Financial Services

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In this article, we share a round-up of the key developments from a regulatory perspective for HR Professionals in UK financial services firms. This covers expected changes to the SMCR regime, regulatory remuneration...more

A&O Shearman

UK Launches 2023 Review of Senior Manager's and Certification Regime

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Following the Edinburgh Reforms announcement in December 2022, the review of the Senior Managers and Certification regime has been kicked off with HM Treasury publishing a call for evidence and the U.K. Financial Conduct...more

Stikeman Elliott LLP

OSFI Releases Draft Culture and Behaviour Risk Guideline

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On February 28, 2023, the Office of the Superintendent of Financial Institutions (“OSFI”) announced the release of a draft Culture and Behaviour Risk Guideline (“Draft Guideline”). In response to feedback received in response...more

Morgan Lewis

UK Financial Conduct Authority Continues Focus on Diversity and Inclusion

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The UK Financial Conduct Authority (FCA) has recently announced that it is considering adding a sixth question on diversity and inclusion (D&I) to its five conduct questions (5CQs). The significance of D&I has long been...more

Thomas Fox - Compliance Evangelist

Wells Fargo Settlement: Part 3 – Gaming

This week I am exploring the Wells Fargo Department of Justice (DOJ) and Securities and Exchange Commission (SEC) settlement of $3 billion. The case presents multiple lessons for the compliance professional and one very large...more

Thomas Fox - Compliance Evangelist

Wells Fargo Settlement: Part 2 – Cross-Selling

This week I am exploring the Wells Fargo Department of Justice (DOJ) and Securities and Exchange Commission (SEC) settlement of $3 billion. The case presents multiple lessons for the compliance professional and one very large...more

Hogan Lovells

UK: FCA draft vulnerability guidance: embedding ‘doing the right thing’ in firms’ culture

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The FCA has published a consultation on proposed non-Handbook guidance for firms on the fair treatment of vulnerable customers. The FCA reiterates that vulnerability is one of its key priorities and makes it clear that the...more

BCLP

FS Regulators’ Business Plans: Infographic Timeline and Summary

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Click here for an infographic timeline summarising the FCA, PRA and PSR business plans for 2019/20, together with key EU and UK financial services developments. The Financial Conduct Authority published its business plan on...more

BCLP

In the shadow of the financial crisis – a decade on, why does the issue of culture still persist?

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This week, Andrew Bailey, the Chief Executive of the FCA, gave his latest speech addressing the issue of culture. The speech, which was entitled “The Importance of Diversity” and given at the Personal Investment Management...more

The Volkov Law Group

The Culture Bandwagon — SEC Chairman Joins the Club

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Maybe I am missing something, but everyone is jumping on the culture bandwagon. Regulators like to speak about it; prosecutors like to emphasize it – everyone likes to talk about it as a way to encourage corporate leaders to...more

The Volkov Law Group

Financial Institutions and the Glaring Absence of an Ethical Culture

The Volkov Law Group on

Federal prosecutors and regulators have been active in tackling US banks. In the last few weeks, the Federal Reserve took the extraordinary step of blocking Wells Fargo’s ability to grow its business until it improves its...more

Thomas Fox - Compliance Evangelist

More Compliance Lessons from Wells Fargo-FOREX Trades

At some point, you must ask just how corrupt is an organization? What does the tone from top which says to make your numbers at all cost, translate to in operationalization? Unfortunately, we have seen yet another dramatic...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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One might think that Tesla shareholders would be thrilled with yesterday’s news that Elon’s car-making arm has surpassed even GM in market value. True, perhaps, but only to a point. Turns out that Tesla’s recent surge has...more

The Volkov Law Group

Can Wells Fargo Fix its Defective Culture? (Part I of III)

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The more you learn about Wells Fargo’s culture problems, the more difficult the problems become. But you have to start somewhere, and assuming that Wells Fargo really is committed to addressing the serious problems they face,...more

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