Recognizing the impact of emotional contagion on risk could be the key to developing a true compliance culture. To achieve it, however, firms will have to look inside themselves.
"To respond effectively to the pressures driving potentially risky behaviours, compliance functions need people with wider experience of the business that understand them. If they can do that, it could be the key to keeping everyone happy – the regulators included."
The Global Enforcement Review (GER) provides analysis and commentary on global enforcement trends in the financial services industry. To compile this report, we studied published data released by the UK Financial Conduct Authority (FCA), the U.S. Securities and Exchange Commission (SEC), the U.S. Commodity Futures Trading Commission (CFTC), the U.S. Financial Industry Regulatory Authority (FINRA), and the Securities and Futures Commission (SFC) of Hong Kong in 2016 and recent years. We have also explored the enforcement trends in various offshore jurisdictions.