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U.K. Regulator Places Corporate Culture at Heart of Compliance

Roberta Holland | January 21, 2015

A recent report by the United Kingdom’s financial regulator said companies have improved compliance with reporting and other requirements, but the regulator’s chairman is urging companies to tackle the less tangible issue of corporate culture.

Sir Winfried Bischoff, chairman of the Financial Reporting Council, wrote an opinion piece in London’s City A.M. last week that raised the question of who is accountable when a company’s culture is found at fault. He acknowledged corporate culture “is not an easy concept.”

Bischoff-winfried-0115“Good corporate governance is an essential part of a healthy corporate culture,” Bischoff wrote. “Strict adherence to the principles and provisions of the...

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