As the FCA makes clear its intentions to scrutinise firms' business ethics and cultural attitudes, Tony Rawlins, senior manager at Moore Stephens, asks if your board's requisite skills are up to scratch.
As the Financial Conduct Authority (FCA) and Prudential Regulatory Authority (PRA) near their five-month anniversary, what has changed? To my mind, the major changes taking place in the regulator's approach reflect its concentration on behavioural issues such as business ethics and cultural attitudes, particularly in the behaviour of boards and senior management and the manner in which business is conducted. The FCA has made it very clear that it is not simply looking at a firm's adherence to the rulebook but that it will take a view on the broader issues of morals and outcomes. Gi...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
