Patchy subculture driving misconduct at financial firms: ex-regulator
Add BT as a preferred source
A FORMER regulator turned consultant said financial institutions should better define "proper conduct", by weeding out toxic sub-cultures and drawing clear paths for staff to call out wrongdoing.
This comes amid recent high-profile financial blowups that have exposed risk management flaws of financial institutions.
It may not be feasible to set up new safeguards only after each scandal unfolds "because then you will have a rule book that is extremely thick, with a lot of specific do's and don'ts", Deloitte's Southeast Asia regulatory risk leader Wong Nai Seng told The Business Times in an interview.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature
