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SEC’s Clayton digs into the basics of company culture

Joe Mont | June 20, 2018

A challenge for any compliance officer is meeting the ever-increasing expectation for shaping a company’s culture.

Speaking to an audience at the New York Federal Reserve this week, Jay Clayton, chairman of the Securities and Exchange Commission, shared his thoughts on that imperative.

“Culture is not an option,” he warned, referencing a recent discussion paper authored by the U.K.’s Financial Conduct Authority.

“Every organization has a culture and, in some cases, the firm’s culture is in fact a collection of many sub-cultures,” Clayton elaborated. “While the leaders of our financial institutions often are tasked with driving positive changes in culture, they must recognize they are not writing on a blank slate or, for that matter, a single slate.”

To effectively manage the business of your organization on a day-to-day basis and over the long term, “management needs to know what the culture of the organization is today, including the key drivers of that...

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