The conduct of bankers often raises suspicion among industry experts. The Telegraph reported that Allianz Global Chief Elizabeth Corley found that the financial services sector need to hold bankers more accountable for their actions so they start taking it seriously. In her address at the CityUK’s annual conference, this week, Corley told attendees that more intervention from the government and a robust culture of compliance is needed to stop bankers from behaving badly.
Corley says that there are blind spots between hedging risks and influencing market prices. In fast moving, intricate markets, it is sometimes difficult to root out bad behavior and too often it goes unnoticed. As recent cases involving financial institutions suggest, this type of behavior not only threatens the fiscal health of many banks, but it serves as a conduit for money laundering, bribery and corruption.
