1. Insights

    Insights is CCP Research Foundation's open-access library containing articles, papers and other publications across a range of topics that relate to the Foundation's "Conduct, Culture and People" agenda.*

    *The views and opinions expressed in the materials available within "Insights" are solely those of the author(s) concerned and do not necessarily reflect the position of the Foundation or its directors.

  1. Name Governance of Banks in an Era of Regulatory Change and Declining Public Confidence
    Date 2014-09-15 00:00:00 +0100
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    Abstract: Corporate governance reforms have become more intrusive for banks than might be thought appropriate for “ordinary corporates”. “Heavier” regulation in this area is justified by the public interest at stake in bank activity and the risk to the public interest if a bank is allowed to fail (and the cost to the public of saving a bank from failure). The public interest (and the interest of all stakeholders) also has implications for the scope of the duty of care of bank directors.


    Conventional concepts of corporate governance address traditional risk areas in banking activity as well as tensions such as the “agency problem” and the need for oversight by directors of senior management. However, a new set of issues related to public trust has been triggered by the LIBOR scandal and most banks, and many commentators, profess a desire to “restore public trust” and address acknowledged shortcomings in their approach to ethical questions and the soundness of their corporate culture. A related, but different, set of challenges arises as a result.

    The paper could be downloaded at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2497321.

    About the authors:
    Roger McCormick: London School of Economics - Law Department
    Andrea Minto: Ca' Foscari University of Venice

     

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