{"id":28906,"date":"2015-03-10T13:32:32","date_gmt":"2015-03-10T02:32:32","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=28906"},"modified":"2015-03-10T13:32:32","modified_gmt":"2015-03-10T02:32:32","slug":"ethics-in-financial-firms-a-global-issue","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2015\/03\/10\/ethics-in-financial-firms-a-global-issue\/","title":{"rendered":"Ethics in Financial Firms a Global Issue"},"content":{"rendered":"<p><span style=\"line-height: 1.5em\">Concern about the ethical culture within financial firms is not limited to Australia, a new survey has found.<\/span><\/p>\n<p><!--more-->The <a href=\"www.cfainstitute.org\" target=\"_blank\">CFA Institute<\/a>, a global association of investment professionals, recently conducted its 2015 Global Market Sentiment Survey. It found that 63% of respondents globally said that a lack of ethical culture within financial firms was the single biggest reason for the current lack of consumer trust.<\/p>\n<h6>&#8230;one third of respondents said that a zero-tolerance policy by management for ethical breaches was essential<\/h6>\n<p>Asked how they would address the problem, nearly one third of respondents (27%) said that a zero-tolerance policy by management for ethical breaches was essential.<\/p>\n<p>\u201cThese results point to an issue that CFA Institute has been acting on for years, the fact that compliance is not a nuanced concept,\u201d said CFA Society of Sydney President, <strong>Anthony Serhan<\/strong>.<\/p>\n<p>\u201cIf we are to earn trust from investors, ethical and literal compliance must be treated as equally important and equally enforceable.<\/p>\n<p>\u201cThis means that employers must step up, create a culture of ethical compliance, and enforce it rigorously.<\/p>\n<p>\u201cThat isn\u2019t to say that the burden falls entirely on employers. Vigilant, proactive regulators are also crucial, but one of the most interesting revelations from this year\u2019s survey is that \u2018unethical firm culture\u2019 is seen as the true culprit when it comes to lack of trust, more so than any failure of government regulation,\u201d Mr Serhan added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Concern about the ethical culture within financial firms is not limited to Australia, a new survey has found.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,3],"tags":[],"class_list":["post-28906","post","type-post","status-publish","format-standard","category-compliance-regulation","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/28906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=28906"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/28906\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=28906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=28906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=28906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}