The Role of the Regulator in Supervising Culture in Financial Services Firms

Forthcoming in Joe McGrath, ed. White Collar Crime in Ireland: Law and Policy (Dublin: Clarus Press, 2018)

UCD Working Papers in Law, Criminology & Socio-Legal Studies Research Paper No. 0618

22 Pages Posted: 9 Apr 2018 Last revised: 30 Apr 2018

Date Written: April 9, 2018

Abstract

In recent years, a wide range of misconduct scandals has come to light in the financial services industry around the world.

Financial services regulators have increasingly recognised that a core underlying issue, giving rise to these problems, is the culture of financial services firms. Regulators internationally are, accordingly increasingly focusing their attention on supervising the underlying cultures and behaviours that are the drivers of unethical/illegal conduct within firms.

This chapter looks at the efforts of financial services regulators internationally, including in Ireland, to address issues of culture within financial services firms and considers the role of the regulator in affecting improvements in culture in firms.

Keywords: financial services, regulators, culture, financial services firms, misconduct, scandal, international, Ireland, supervising

Suggested Citation

Walker, Ciaran, The Role of the Regulator in Supervising Culture in Financial Services Firms (April 9, 2018). Forthcoming in Joe McGrath, ed. White Collar Crime in Ireland: Law and Policy (Dublin: Clarus Press, 2018); UCD Working Papers in Law, Criminology & Socio-Legal Studies Research Paper No. 0618. Available at SSRN: https://ssrn.com/abstract=3159071

Ciaran Walker (Contact Author)

Eversheds LLP (Ireland) ( email )

One Earlsfort Centre
Earlsfort Terrace
Dublin, 2
Ireland

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