Credible deterrence and the financial services industry

Ryder, Nicholas

Abstract

This presentation concentrated on the recent cases where individuals have been banned from performing controlled functions as a result of their behaviour in their personal life (such as the ban of Blackrock investment manager Jonathan Burrows caught evading fares, and Mr Verrier’s ban following a High Court judge’s finding that he had deliberately lost evidence during a civil case). The paper comments on the deterrent effect of these bans and whether or not they are proven to increase the culture of compliance in financial services: are those who commit offences in their private lives more likely to be dishonest at work? The paper also briefly considered whether the new criminal offence of ‘reckless management of a bank’ is necessary/justified in terms of changing the behaviour of banks and those employed by them

Citation

Ryder, N. (2015, May). Credible deterrence and the financial services industry. Paper presented at Bar Association of Commerce, Finance and Industry

• Presentation Conference Type: Conference Paper (unpublished)
• Conference Name: Bar Association of Commerce, Finance and Industry
• Start Date: May 20, 2015
• End Date: May 20, 2015
• Publication Date: May 20, 2015
• Peer Reviewed: Not Peer Reviewed
• Keywords: credible deterrence, financial services industry, financial conduct authority
• Publisher URL: http://www.bacfi.org/files/20%20May%202015%20flyer.pdf
• Additional Information: Title of Conference or Conference Proceedings : Financial Services, Integrity and the Right to a Fair Hearing