Sponsored briefing: A cultural shift – has the fallout from the financial crisis changed corporate culture in financial services or is there still work to be done?

Zeena Saleh, associate, and Chris Brennan, partner, at White & Case on corporate culture

The concept of corporate culture was the focus of much discussion at the Legal Business Financial Regulatory and Disputes Summit 2020 (the Summit). Since the 2007/08 financial crisis, culture is a concept that has become an increasingly important priority for financial services firms and conduct regulators across the globe. There is no doubt that firms and their senior managers are more aware of the importance of ensuring a good corporate culture throughout their business. However, with more reports of financial and non-financial misconduct within the market, it seems likely that regulators will consider further work needs to be done.