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FCA publishes discussion paper on transforming culture in financial services

Jaclyn Jaeger | March 13, 2018

The U.K. Financial Conduct Authority has published a discussion paper on transforming culture in financial services which presents views from academics and industry thought leaders. The paper is intended to provide a basis for stimulating further debate on transforming culture in the sector.

The discussion paper, “Transforming Culture in Financial Services,” consists of a collection of 28 essays that discuss what a good culture might look like, the role of regulation and regulators, how firms might go beyond incentives, and how to change behaviour for the better.

“Culture and governance is a priority for the FCA, and we have a strong focus on the role of the individual as well as the firm," the FCA stated. "The FCA has considered the role of leaders, incentives and capabilities, and governance of decision making.”

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