Banks have taken great steps forward in the past few years to improve their culture, and with it the behaviour and competence of their staff. Boards and senior management teams have devoted time and financial resources to educate and train their workforce about the high ethical, professional and business standards that are expected of them, not just by their employers and shareholders, but by customers, regulators and the wider public.
Besides individual bank initiatives, concerted sector-wide action has been taking place. In the UK, two new industry standards organisations have been created – the Banking Standards Board and the FICC Market Standards Board. Professional institutes like the CISI and the Chartered Banker Institute, which already play an important role in ensuring their members act with integrity, are starting to up their game. The Senior Managers and Certification Regimes, introduced for the banking sector in March 2016, have had a major impact and will soon be extended to asset management, insurance and other financial sectors. In Europe, North America, Asia and other part of the world, similar initiatives to enhance banking standards are well underway.
But what levels of success are being achieved? What more needs to be done? Can bankers really change their behaviour?
The FTBanking Standards Conference will deal with these questions. Senior bankers, regulators, consultants, academics, lawyers and consultants will grapple the issues and provide some answers. The presentations, panel sessions and on-stage interviews will be moderated by senior editors from the Financial Times Group. Book your place now for what promised to be a must-attend event.