FCA Discussion Paper on transforming culture in financial services

As part of its ongoing work on culture and governance, the FCA has published a discussion paper, comprising a series of essays from academics and industry thought leaders covering:

  • what a ‘good’ culture might look like;
  • the role of regulation and regulators;
  • how firms might go beyond incentives; and
  • how to change behaviour for the better.

Although the FCA is not seeking formal feedback on the paper, firms are encouraged to consider the themes discussed in the paper; we will no doubt see some of those ideas being discussed in more sector- or product- specific contexts in the future.