IMF [to 7 November 2015]
http://www.imf.org/external/news/default.aspx
[We generally limit coverage to regional and global level initiatives, recognizing that a number of country-level announcements are added each week]
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The Role of Personal Accountability in Reforming Culture and Behavior in the Financial Services Industry, By Christine Lagarde, Managing Director, International Monetary Fund
November 05, 2015
… In conclusion: financial institutions, national authorities, and the international community have begun to respond to the issue of ethics in finance. Still, swifter action is needed to restore trust in the financial sector. The public needs reassurance that misconduct issues that caused the failures in institutions and markets in the past few years have been dealt with.
For our part, the IMF has supported this effort on several fronts, including through an incipient research agenda on ethics in finance. We have also leveraged the convening power of the Fund to shed new perspectives on this issue – bringing together policymakers, industry specialists, clergy and even young professionals to develop a shared understanding of how to instill ethical behavior at all levels in finance.
I started by arguing that the appropriate regulatory and governance framework must be in place to support the ethics of behavior of individuals. Yet the opposite is also true. Without individual integrity, even the best regulatory and governance structures can be gamed.
So let me leave you with this thought, from Warren Buffett: “In looking for people to hire, you look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you.”…