FCA: 'Culture is in danger of becoming a buzz term'

Speaking at the MetricStream Governance, Research and Compliance Summit in London on 11 November Mark Steward said rules and standards alone could not be relied on to create good culture and governance in firms, they were merely starting points. According to the regulator creating a firm's culture is at the forefront of achieving consumer confidence in financial services. Steward, who succeeded Georgina Philippou in a reshuffle earlier this year, told delegates to view their firms' systems "from the perspective of the cynic who is able to exploit the gaps" in order to foresee potentia...