UK’s Financial Conduct Authority drop inquiry into culture of banking
Thursday, December 31, 2015 The Financial Conduct Authority, one of Britain’s banking sector regulators, indicated it has decided to drop an inquiry into banking culture, including practices and payment of banking staff. The inquiry was intended to review “whether culture change programmes in retail and wholesale banks are driving the right behaviour, in particular focusing on remuneration, appraisal and promotion decisions of middle management, as well as how concerns are reported and acted on”. A…