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 Critically discuss the potential of regulation to change the culture and behaviour of the UK banking industry
    Date 2014-12-04 00:00:00 +0000
    Text

    In 2006 UK banks’ assets, as a percentage of GDP, had increased from 50 percent to 500percent in less than four decades (Prieg, 2011). This highlights the importance the banking sector has to UK economic growth and prosperity. However, the most recent recession, which was heavily driven by misconduct in the banking sector, also demonstrated the far reaching consequences of bad behaviour endemic to the industry. As this sector is one of the UK’s biggest economic driving forces, a well-functioning system is vital for the country's economy. Yet its efficacy has been eroded by a loss of trust born from a profound lapse in banking standards and driven by a decline in banking ethics. Scandals in the sector such as the mis- selling of PPI and the manipulation of LIBOR, both of which occurred post financial crisis, indicated that further reform to address cultural problems is needed. Mark Carney, the governor of the BoE, predicts that by 2050 UK banks’ assets could exceed nine times GDP and therefore strengthen their position in the economy (Wolf, 2013). However, in order to make this growth sustainable, the behaviour and culture in the industry must be aligned with better conduct and standards.

    "Critically discuss the potential of regulation to change the culture and behaviour of the UK banking industry", Newcastle University Business School, MSc Finance and Financial Regulation Dissertation, by Sophie Thurner

  2. Also new

    • Image
    • Name
  1. The CCP Research Foundation is a new, independent social enterprise vehicle, set up to foster and support a new generation of research projects on the theme of "Conduct, Culture and People."  

     

    Contacts

    CCP Research Foundation C.I.C.
    info@ccpresearchfoundation.com

  2. Join the conversation

    You can now follow the CCP Research Foundation on Twitter! 

    @ccp_rf

    Find out more about us

    If you would be interested in being given an informal presentation at your offices about the work of the Foundation (and/or the Conduct Costs Project) and how its work relates to your business please contact: 

    roger.mccormick@ccpresearchfoundation.com

     

     

Powered by: TextoVirtual.com