This event has now taken place but if you would like to see the slides used and some photos taken at the event scroll to the bottom of the page.
Many thanks to Pension Insurance Corporation for hosting this important Symposium:
"HOW CAN OUR CODES OF CONDUCT BE IMPROVED?"
If you haven't been to a Transparency Symposium before you can use the link below to read testimonials:
When and where is the symposium?
From 09:00 to 14:15 (including lunch) on Wednesday 14th March at:
Pension Insurance Corporation,
14 Cornhill, Lodon EC3V 3ND.
Note: The meeting itself ends at 13:30 but delegates can enjoy further networking and lunch until 14:15
What will we be covering?
This Transparency Symposium is a thought leadership event wholly dedicated to exploring the incredibly important question about what scope there is for the Codes of Conduct in the Financial Services sector to be improved.
The inspiration for the event is the idea that perhaps the industry’s trade bodies, professional associations and standards boards are in an ideal place to more positively influence market behaviour through their Codes of Conduct.
When you consider how frequently the reputation of the sector as a whole is damaged by the behaviour of a small number of people, many of whom have been professionally aligned to one body or another, you are left wondering:
- Maybe there are Codes that have scope for improvement?
- Maybe there are Codes that are great ‘on paper’ but aren’t being applied effectively?
- Maybe the code-producing body feels conflicted? – not wanting to police and report poor behaviour because it might tarnish their own brand?
- Maybe there are some bodies that should have Codes that simply don’t have anything in place at all?
- Maybe Codes should be more values-based rather than rules-based?
- Maybe there’s wisdom in the phrase “tools, not rules”
- What role is there for professional oaths and fiduciary standards, where relevant?
- Maybe there are ways to share best practice more effectively, through an informal self-critique of codes and a contrast/compare exercise?
For your information the Transparency Task Force's Market Integrity Team has been doing a great job since January 2017 driving forward an idea to enable the sharing of best practice more effectively, through an informal self-critique of codes and a very worthwhile contrast/compare exercise.
Over 40 relevant trade bodies/professional associations/standards boards have been actively involved to advance the thought leadership in this space – the symposium is a fantastic way to get right up to speed on the key issues and become a participant in the fascinating and thought-provoking discussions taking place.
The Market Integrity Team's findings are rather interesting and are being used to develop a White Paper for consideration by Regulators, Policymakers and of course all code-issuing bodies.
Participants at our event will have the opportunity to help get involved with this important project by helping us to finalise the White Paper, if they wish to.
The valiant volunteers in our Market Integrity Team are shown at the bottom of this web page. They all deserve enormous thanks for their input; particularly those that have been leading the project so brilliantly - Steve Conley, Bob Compton and David Stripp; they have been performing a valuable public service.
Our symposium will deal with the questions set out above and many more so you can expect a very stimulating, engaging and thought-provoking session, which, if all goes to plan will feed many constructive and consensus-based ideas straight into all the key Regulators, Policymakers and code-issuing bodies.
Who shouldn't miss this symposium?
This event will be especially valuable to:
- Financial Services Regulators
- Financial Services Policymakers
- Senior representatives of Financial Services Trade Bodies, Professional Associations and Standards Boards
- Financial Services Thought Leaders
- Compliance professionals
- Risk management professionals
- Academics and researchers in governance, stewardship, ethics, conduct and compliance
- Conduct enforcement professionals
- Financial advisers – retail and institutional
- Public relations professionals and brand custodians
- Trustees, Non-Executive Directors, Independent Directors
- Think Tanks with an interest in governance, culture, behavioural analysis and so on; right across the financial services market including banks, asset management, advisory, insurance etc.
This is a great chance to share your thoughts with The Pensions Regulator and all other attendees as there will be ample scope for facilitated open discussion and debate - the symposium will be 'an interactive event for the few rather than a passive event for many'.
What's the Programme?
09:00
Registration, refreshments and networking
9:30
Andy Agathangelou, Founding Chair, Transparency Task Force
10:00
Stuart Woollard, Co-Founder abd Council Member of The Maturity Institute; Managing Partner, OM Services LLP
10:15
Steve Conley, Founder, Values - Based Adviser and
Principal Leader of TTF’s Market Integrity Team
10:35
David Stripp, Principal, David Stripp Consulting and
a Leader of TTF’s Market Integrity Team
10:45
Bob Compton, Managing Director, ARC Benefits Ltd
and a Leader of TTF’s Market Integrity Team
11:00
Steve Conley, Founder, Values - Based Adviser and
Principal Leader of TTF’s Market Integrity Team
11:15
Refreshments and networking break;
and awarding of the Transparency Trophy
11:45
Ruth Steinholtz, Managing Partner, AretéWork LLP
12:00
Liam Russell, General Counsel, Solicitor-Advocate,
The Chartered Insurance Institute
12:15
Shona Matthews, Head of Regulation and Policy,
Chartered Bankers Institute
12:30
Tony Bromell, Head of Integrity & Markets, Technical Strategy Department, Institute of Chartered Accountants, England and Wales
12:45
Open discussion and debate around the key themes; developing our action plan for the next stage
13:25
Wrap up and close to the formal part of the event
13:30
Lunch and networking
14:15
Final close.
About the speakers
Stuart Woollard,
Managing Partner,
OM Services LLP; and Co-founder and Council member at the Maturity Institute.
Stuart leads pioneering work with the investment community to integrate human governance and human capital management capability into company valuation and investment decision-making.
He also advises business leaders on developing insight that both enhances value and manages business risk with respect to human capital. Stuart has published research on human capital management in international mergers and acquisitions, on HCM in a global context and was appointed an Innovation Fellow at King’s College London in 2010. He was previously Director of King’s and Cornell University’s executive program on global HCM, was part of the international leadership team at E*TRADE Financial and UK MD, and led advisory businesses, both independently and at Arthur Andersen. Stuart studied Economics and Politics at the University of Warwick.
Stuart is a member of TTF's Market Integrity Team; and several others.
Steve Conley,
Founder & CEO,
Values Based Adviser; and
Principal Leader of TTF's Market Integrity Team
- Founding Lead of the Market Integrity Team of the Transparency Taskforce, leading the Codes of Conduct initiative
- Ambassador for the Transparency Task Force, Transparency Trophy Winner, and member of TTF PISCES, Scams & Scandals, Financial Sustainability teams
- Founding CEO of Values Based Adviser www.valuesbasedadviser.com and Academy of Life Planning www.aolp.co.uk
- Director at Workplace Pensions Direct www.workplacepensionsdirect.co.uk , iBuy2Give www.ibuy2give.co.uk , The Blair Project www.theblairproject.org , Asset Recovery Network (UK) Ltd, etc.
- IFA at NBS Financial Planning www.nbsfinancialplanning.co.uk
- Chartered Financial Planner, Chartered Insurer, Master Life Planner, BSc FCII APFS RLP
- Former Head of Investments of HSBC
- Former Head of Savings & Investment Strategy RBS Group
- Former Head of Wrap & Innovation Santander
- Former Chair of British Bankers’ Association Bancassurance Steering Group
David Stripp
Independent Consultant; and a Leader of TTF's Market Integrity Team
David has been consulting on his own account since 2011 on a number of contracts with national IFA and leading insurance and banking organisations.
Previous roles over twenty years with Marsh and Mercer included consulting, management, proposition development, and project & change management. Building on the experience in (DC) Workplace Pensions and Benefits, David’s recent contract roles can be broadly described as proposition and change management, bringing change to the way financial services are delivered.
Projects managed have included:
- developing and bringing to market a new workplace pension offering for SME clients of Mercer
- developing a governance proposition for auto enrolment clients of Barclays Corporate & Employer Solutions
- developing a Pension Freedom DB to DC proposition for Jelf
- building a product governance framework for a leading insurance company
- introducing a new pension and benefit administration system with supporting processes and documents, e.working and TCF to Mercer Employee Benefits Limited
- transitioning tranches of Workplace Benefit and Wealth Management clients to remote working models
Interim roles have also given experience of:
- introducing a three line of defence Governance model to a national IFA company
- defining an Operational Risk Management model for a national IFA firm, based on risk based controls, competencies and TCF MI in a post RDR environment.
Achievements in management included the development of the Marsh Financial Services Bristol office; managing the SW operation; changing the culture from a traditional commission based IFA to a fee based employee benefit consultancy ten years ahead of RDR.
In his earlier life David studied agriculture, taught agricultural science in a Zambian secondary school for two years as a volunteer with VSO, and then managed one of the UK’s top pedigree dairy
herds. Food production is now more limited on the Stripps’ three acres in Somerset. His healthy interest in travelling has been inherited by his daughter who lives in Valencia and his son who lives
in Vancouver.
David acted as Co-Chair of the Friends of Automatic Enrolment Governance Task Force, played a large part in the production of their Guide to AE, is now a Lead on the Market Integrity Team of the Transparency Task Force. He also Chairs the Kingston St Mary Community Partnership.
Bob Compton,
Managing Director,
ARC Benefits Ltd; and a Leader of TTF's Market Integrity Team
Bob is Managing Director and co-owner of ARC Benefits Limited, a UK based firm providing independent pensions management and governance services. ARC have developed a leading edge pensions management and governance system for workplace pensions.
He:
- Has over 40 years of experience in the Company Pensions Industry, having worked for leading Insurance Companies, Brokers and Actuaries.
- Specialized in strategic corporate advice and has designed and established many new pension funds, often with leading edge design, including an industry-wide scheme.
- Has established and sold a joint venture IFA firm and a joint venture with an Independent Actuarial firm.
- Has been the Secretary to Trustees of a £700m pension fund.
- Has since 2006, been instrumental in developing a cutting edge pensions management and governance platform.
- Co-authored a book on Pensions Management, published in 2011.
- Authored a chapter in the Institute of Directors book on Work Place Pensions, published in 2016
- Has provided input and ideas to the CBI, OPRA, TPR, PPF and the DWP
- Has acted as the pension policy advisor to the British Chambers of Commerce
- Established the Independent Professional Trustee Group in 2003, now known as the Association of Professional Pension trustees.
- Is a Fellow of both the Chartered Insurance Institute, and the Pensions Management Institute, and holds the IIMR Certificate on Investment Management, and the PMI Trustee certificate
- Completed a “mini” MBA at Aston Business School in 2016
- Is a long standing committee member of the East Midlands PLSA
- Has been a Fellowship Network Ambassador for the Pensions Management Institute since launch in 2016, to lead high level discussions on key industry issues
- Has been a key part of the management team of the Market Integrity Team of the Transparency Taskforce, developing its Codes of Conduct initiative since 2017
Ruth Steinholtz
Managing Partner
AretéWork
Lawyer, management board member, General Counsel and now and ethics advisor and author. Ruth speaks authoritatively on values-based ethics. Creator of change in both mind set and culture, her focus is on prevention.
Ruth is topical with her new book on ethical business practice, which includes case studies on values-based Codes of Ethical Practice.
Ruth is fully certified in the use of the Barrett Values Centre’s Corporate Transformation Tools.
As General Counsel and Head of Ethics at Borealis AG, Ruth developed a values-based approach to ethics and compliance employing ethics ambassadors throughout the organisation and has since assisted several companies to adopt this approach. She believes that companies that focus on their values and culture will be more successful and sustainable.
Career spanning countries, continents and cultures. Primary personal value: making the world a better place.
In addition to the recently published Ethical Business Practice and Regulation, A Behavioural and Values-Based Approach to Compliance and Enforcement, written with Professor Chris Hodges, Ruth’s publications include the IBE’s Good Practice Guide to Ethics Ambassadors and Good Practice Guide: Performance Management for an Ethical Culture, as well as The Effective Practitioner, Ethics Ambassadors: Getting Under the Skin of the Business (June 2014, The Journal of Business Compliance).
Ruth is also a member of TTF's Market Integrity Team.
Twitter: @ruthsteinholtz
Web: www.aretework.com
Shona Matthews
Head of Regulation and Policy, Chartered Banker Institute
Shona joined the Institute in 2007, is responsible for monitoring relevant regulatory and policy developments: a key role in strengthening the Institute’s reputation and profile within the relevant regulatory communities and in helping keep members informed of current and future regulation.
With over 20 years' experience in the financial services sector, Shona has led a number of strategic projects within the Institute, including implementation of a new website, member portal and management system, enhancing the Institute’s member engagement and communications strategy, as well as supporting relationships with UK banks and international partners.
Passionate about ensuring professional standards are practical, Shona has participated in many regulatory consultations, including the Financial Services Skills Council’s Working Group to develop professional qualification standards for investment advice in line with the requirements of the FSA’s Retail Distribution Review.
Shona started her career in Ernst & Young’s Polish headquarters in Warsaw, before returning to the UK to work with the Chartered Insurance Institute (CII). During her time at the CII Shona was responsible for establishing key relationships within the financial services sector in Scotland and Northern Ireland.
Shona is a member of the Scottish Parliament’s Cross-Party Group on Skills and was key in helping establish it, holding the position of Secretary between 2008 and 2013.
Shona is also a member of TTF's Market Integrity Team.
Liam Russell
General Counsel
Solicitor-Advocate
The Chartered Insurance Institute (CII)
Liam is the General Counsel for the Chartered Insurance Institute in London and a Solicitor-Advocate (Higher Courts Civil Proceedings). He heads up the CII's legal function of 5 legal advisors and
has significant experience in commercial contract management, senior stakeholder management, supervision and development of team members, professional membership disciplinary and/or eligibility
issues, dispute resolution, trademark protection and all general day to day legal issues (including data protection - including GDPR compliance, equality and diversity and reasonable
adjustment/special consideration queries) for the CII.
Liam is engaged on a daily basis with providing succinct legal and commercial advice to the senior stakeholders within the CII on both national and international issues and on providing strategic
advice as well as developing policies and processes to improve the business function.
He qualified as a Chartered Legal Executive in January 2011 and as a Solicitor in January 2014. Liam worked for Eversheds LLP within the Financial Services Disputes and Investigations department for
8 years. This work involved financial services litigation and investigations for major retail banks and financial institutions.
Liam is also a member of TTF's Market Integrity Team.
Tony Bromell
Head of Integrity & Markets, Technical Strategy Department,
Institute of Chartered Accountants of England and Wales
Tony is a Chartered Accountant, having trained with what is now one of the big four firms and gone on to become a partner with a group A firm.
He is responsible for advising ICAEW on ethics and related policy matters, including maintaining and updating the Institute code of ethics; thought leadership work on ethics and the public interest; and liaising with other accountancy bodies, the FRC, and international bodies on ethics issues including auditor independence. He was until 2016 the UK technical adviser to the International Ethics Standards Board for Accountants.
He also deals with a number of matters pertaining to external regulation of the profession, including aspects of audit market competition and auditor liability.
Tony is als a member of TTF's Market Integrity Team
Andy Agathangelou,
Founding Chair,
Transparency Task Force
Andy will be Chairing the Symposium. His overall objective is to galvanise support for the idea that greater transparency in financial services can drive positive, transformational change for the benefit of all.
Andy formed the Transparency Task Force following a meeting he led at Senate House, University of London on 6th May 2015. The meeting was the about the trust deficit that is impacting financial services and how harnessing the transformational power of transparency can drive the change that is needed.
That meeting set off a chain of events that led directly to the creation of our collaborative, campaigning community which is built on the idea that 'Sunlight is the Best Disinfectant'.
Since 6th May 2015 he has recruited, organised and mobilised over 300 volunteers around the world into 12 Teams:
- The Banking Team
- The Foreign Exchange Team
- The Market Integrity Team
- The Costs & Charges Team
- The Scams & Scandals Team
- Team PAM (Progressive Asset Managers)
- Team PISCES (Purpose; Impact Investing; Sustainability; Corporate Social Responsibility; Environment, Social & Governance; Socially-Responsible Investing)
- The Financial Stability Team
- Team APAC
- Team EMEA
- Team Americas
- Team GTI (Global Transparency Index)
Our 12 Teams are the 'engine room' of the Transparency Task Force's work. Each Team is focused on a particular set of opacity-related challenges whereby subject-matter experts work together on a completely voluntary basis to develop and implement strategies to overcome those challenges.
Andy is also:
- Founding Chair, the Technology Task Force
- Chair, the Interoperability Steering Group
- Governor, Pensions Policy Institute
- Fellow, the RSA
- Chair, Pensions BIB,
- Member, Investment Association Advisory Board on Cost Disclosure
- Former Founding Chair, Friends of Auto Enrolment
- Former Founding Chair, Friends of the Association of Member Nominated Trustees
How to secure your place at the event
Please note that there is limited availability and all places must be booked in advance - use the link below.
It is a pay-to-attend event: £490 buys a place for one attendee including logo sponsorship; but if logo sponsorship isn’t wanted the price for one attendee is just £245.
Furthermore, if the pricing is genuinely a barrier, let us know and we'll look to discount as necessary - one way or another if the topic is of genuine interest we're keen that you can attend and participate, so if you genuinely need an adjustment to the price for you get in touch through:
andy.agathangelou@transparencytaskforce.org or 07501 460308
Payment can be made through credit card or invoice.
Members of our Market Integrity Team
The Transparency Task Force would like to express its thanks to the many volunteer members of our Market Integrity Team:
|
First Name |
Last Name |
Job Title |
Organisation |
|
Adam |
Williamson |
Head of Professional Standards |
Association of Accounting Technicians |
|
Andrew |
Ninian |
Director Corporate Governance and Engagement |
The Investment Association |
|
Andy |
Agathangelou |
Founding Chair |
Transparency Task Force |
|
Anna |
Roughley |
Lead Manager, Insight and Support |
Lending Standards Board |
|
Ben |
Kemp |
General Counsel |
Institute and Faculty of Actuaries |
|
Bob |
Compton |
MD |
ARC Benefits Limited; and Team Leader |
|
Charles |
Seaford |
Director |
An Economy that Works |
|
Charles |
Worth |
Head of Business Law Department |
ICAEW |
|
Charlotte |
Ali |
Professional Standards Officer |
Chartered Institute of Taxation and Association of Taxation Technicians |
|
Chris |
Hannant |
Director General |
APFA |
|
Chris |
Lawrenson |
Head of Legal Services |
Building Societies Association |
|
David |
Murray |
Chief Executive |
Preventable Surprises |
|
David |
Rich |
CEO |
Accurate Data Services |
|
David |
Stripp |
Founder |
David Stripp Consulting; and Team Leader |
|
David |
Pickering |
Chief Executive |
Loan Standards Board |
|
David |
Mond |
Chairman |
The Debt Resolution Foundation |
|
Gurpreet |
Manku |
Assistant Director General |
British Private Equity and Venture Capital Association |
|
Helen |
McCarthy |
Head of Policy |
Consumer Finance Association |
|
James |
Ewing |
Policy Manager |
Banking Standards Board |
|
James |
Kemp |
|
Association for Financial Markets in Europe |
|
Jane |
Capaldi |
Head of Operations |
Institute of Financial Accountants |
|
Jason |
Wassell |
Chief Executive |
BCCA |
|
JB |
Beckett |
Consulting Chief Investment Officer/UK Lead |
New Fund Order Consulting/Association of Professional Fund Investors |
|
Jen |
Sisson |
Investor Engagement |
Financial Reporting Council |
|
Jenny |
Condron |
Partner |
Mercer |
|
Jo |
Stickland |
Technical Manager |
Investments and Life Assurance Group |
|
Julia |
Graham |
Deputy CEO and Technical Director |
Airmic |
|
Dr. Kara |
Tan Bhala |
President and Founder |
Seven Pillars Institute for Global Finance and Ethics |
|
Les |
Bradley |
President |
Association of International Accountants |
|
Lesley |
James |
Director |
Simplified Money Ltd |
|
Lesley |
Alexander |
Chair |
UK Sustainable Investment and Finance Association |
|
Liam |
Russell |
General Counsel, Solicitor Advocate |
Chartered Insurance Institute |
|
Linda |
Houston |
Professional Standards Manager |
Chartered Banker Institute |
|
Malcolm |
Hyde |
Executive Director |
Chartered Institute of Loss Adjusters |
|
Mark |
Brownridge |
Director General |
EIS Association |
|
Martin |
Shaw |
Chief Executive |
Association of Financial Mutuals |
|
Michael |
Young |
Chair Professional Standards Committee |
Society of Trust & Estate Practitioners |
|
Michelle |
Caulfield |
Business Manager |
Wholesale Markets Brokers' Association |
|
Mike |
Carrodus |
CEO |
Substantive Research Ltd |
|
Paul |
Dyer |
Member, Steering Council |
APCC |
|
Paul |
Chisnall |
Executive Director, Financial Policy & Operations |
British Bankers' Association |
|
Paul |
Smee |
Director General |
Council of Mortgage Lenders |
|
Peter |
Smith |
Head of Policy Strategy Development |
TISA |
|
Peter |
Steel |
Vice President, Professional Standards and Conduct |
Chartered Institute of Management Accountants |
|
Philip |
King |
CEO |
Chartered Institute of Credit Management |
|
Raj |
Thamotheram |
Chief Executive |
Preventable Surprises |
|
Rebecca |
Aston |
Manager, Ethics and Integrity |
CISI |
|
Robert |
Yuille |
Assistant Director, Head of Retirement Policy |
Association of British Insurers |
|
Robert |
Sinclair |
Chief Executive |
Association of Mortgage Intermediaries |
|
Ruth |
Steinholtz |
Managing Partner |
AretéWork LLP |
|
Saima |
Hansraj |
Compliance Manager |
Lending Standards Board |
|
Sarah |
Boyce |
Associate Director |
Association of Corporate Treasurers |
|
Sarah |
Manuel |
Professional Standards Manager |
STEP |
|
Shona |
Matthews |
Head of Regulation and Policy |
Chartered Banker Institute |
|
Steve |
Brunige |
Head of Industry and Government Engagement |
BSI |
|
Steve |
Conley |
Chief Executive |
Values Based Adviser; and Team Leader |
|
Stuart |
Woollard |
Managing Partner |
OMS LLP |
|
Suzi |
Daley |
External Affairs Adviser |
UK Accreditation Service |
|
Thomas |
Deinet |
Executive Director |
Hedge Funds Standards Board |
|
Tim |
Middleton |
Technical Consultant |
Pensions Management Institute |
|
William |
Claxton-Smith |
Non-Executive |
Remuneration Consultants Group |
Click on the icon below to download the slides:
TS London 14th March 2018.pdf
Adobe Acrobat document [60.1 MB]
Click below to view pictures from the event:
The Great Divide
You can read the speech by Andrew G. Haldane, FAcSS (the Bank of England's Chief Economist and Executive Director of Monetary Analysis and Statistics) that he gave on 18th May 2016 at the New City Agenda Annual dinner.
The speech is entitled The Great Divide and it is a first class explanation of why the trust deficit really matters and why it makes sense to try to do something about it.
Please click on the green button to access it; if you're not convinced of its relevance to our initiative, here's part of it:
..."The most important and compelling message the Bank received at the Open Forum came in the first session. The Bank had conducted some polling of perceptions of the financial sector – for example, by asking people what one word best described the future of financial markets. Among the Bank’s usual contacts, including those in the financial sector, the most used word was “regulated”. Many of us will have heard that message from financial insiders concerned about the perils of over-zealous regulators.
For me, the more revealing responses came from the general public, from the customers, rather than the producers, of financial services. The word most used by them when describing financial markets was a rather different one: it was “corrupt”. Not far behind were words like “manipulated”, “self-serving”, “destructive” and “greedy”. I am sure many of you have heard those messages too. They are certainly ones I have encountered frequently on my visits around the country."...
Please click the green button below to access the full speech. If you need to read another piece first, here it is:
..."At least until recently many economists like me, when faced with this evidence, might have shrugged our shoulders. Social capital had no real role in our models of economic growth, unlike physical capital and human capital. Trust did not butter our parsnips and nor did it enter our production functions.
Recently, however, that orthodoxy has changed and the importance of trust has become clearer.
Evidence has emerged, both micro and macro, to suggest trust may play a crucial role in value creation. At the micro level, there is now ample evidence the degree of trust or social capital within a company contributes positively to its value creation capacity.
At the macro level, there is now a strong body of evidence, looking across a large range of countries and over long periods of time, that high levels of trust and co-operation are associated with higher economic growth.
Put differently, a lack of trust jeopardises one of finance’s key societal functions – higher growth.
Those social capital effects appear to be particularly potent when it comes to financial decisions. Evidence suggests that a lack of trust leads people to retreat from the stock market and banks and to move towards cash holdings and informal sources of credit, such as payday lenders and loan sharks. That jeopardises the second key benefit of finance to society – improved risk-sharing by households and companies.
So a lack of trust in finance potentially hobbles both economic growth and financial stability.
That lack of trust is the mirror-image of the perception gap between the financial sector and wider society, the Great Divide.
The Great Divide matters because it signals a pronounced and protracted erosion of social capital. It puts finance on notice for losing its social licence. And, unaddressed, that jeopardises future wealth and well-being."...
Please click on the green button to access the full speech. If you're not yet convinced you should, here's a final snippet:
..." As a survey in 2013 of financial professionals found, rather remarkably, that over half believed their competitors engaged in illegal or unethical behaviour. A smaller, but still high, fraction of 24% believed their own company engaged in such practices. Similar percentages believed their industry did not fulfil its fiduciary function of putting clients’ interests first.
The significance of these findings is not the precise percentages, as striking as these are.
More fundamentally, it is because of what they reveal about finance’s perception of itself, the mirror it holds to the social identity of finance."...
Click onto the button below to access the full speech; you'll be glad you did, it's profoundly thought-provoking for anybody interested in the future of the financial services industry:
If you are not already on the right page and want to read about our major international project to help rebuild trustworthiness and confidence in financial services, click on the orange button below:
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