Don't let the pressure off conduct risk
The lessons of the crisis need to be preserved – and changes in regulations will be meaningless unless they're followed by the right rewards and incentives
No regulation, no policy can survive long against people determined to circumvent it. This doesn't make it any less important to put the right policies and regulations in place, but it does mean that they can't be the sole solution. Across the financial industry, attention is now turning to conduct risk as the priority for operational risk management and regulatory focus (it was the subject of
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