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McIlroy, David H. (2016) 'What effect does regulation have on the culture of banks?' In: Østergaard, Kim, Lyngsie, Jacob and Mortensen, Bent Ole Gram, (eds.), Rets- og kontraktøkonomi : En antologi = Law and economics: An Anthology. Copenhagen: Jurist- og Økonomforbundets Forlag, pp. 65-87.

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The changes in UK financial services regulation contributed to a limited extent to adverse developments in the culture in UK banks but the major reasons for movement away from a concern for the interests of customers to the generation of short term profitability at all costs came from elsewhere. The introduction of the new Senior Managers Regime by the UK regulators is unlikely to be sufficient, in itself, to see positive changes in the culture in UK banks given the importance of middle managers in large banks in determining what banks actually value and reward.

Item Type: Book Chapters
SOAS Departments & Centres: Legacy Departments > Faculty of Law and Social Sciences > School of Law
ISBN: 9788757435467
Date Deposited: 31 May 2016 10:41

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