 | Editor's Letter - The way things are done around here: In the issue this month, we again turn to the subject of culture and ethics in banking. News: New strategic approach for the FCA; News Review; OECD reports dispels foreign bribery myths; US regulators clamp down on cybersecurity. Spotlight - Toxic Atmosphere: An academic study has proven that the prevailing banking culture weakens and undermines honesty, while another study shows ethnic diversity deflates price bubbles. Victoria Tozer-Pennington reports. Tracking Litigation: Fines and the accompanying litigation costs are hurting banks - the litigation tracker from KBW provides some startling statistics. How To... Select a software solution: RiskBusiness’ Mike Finlay takes a look at some of the issues and outlines a structured approach to selecting and commissioning a commercial solution. Virtual Operational Risk: Simudyne sets out how simulations can help firms prepare for catastrophes. Limits Need Teeth: In a rebuttal to the continuing attack on the broken banking culture, Nick Leeson argues that bankers and traders push limits on a daily basis, and so it is time those limits grew teeth. Sharing Scenarios - Vendor performance failures: This month the scenario explores a vendor or service provider failure to perform in the manner for which it has been contracted, resulting in both financial and processing impacts on the firm. Risk Classifications - Organised labour actions: In this issue, RiskBusiness’ Mike Finlay takes a look at the implications of organised labour actions on the firm. Dear CEO: Every month an anonymous chief risk officer of a financial services firm writes a letter to his CEO detailing some of the issues he has always wanted to raise. |
