Extra-compliance

Paul Basson of Integrity Interactive argues that financial services companies need to change their attitude towards ethics and compliance before an expensive error forces their hand.

Paul Basson is President of Integrity Interactive Europe. He can be contacted on: pbasson@integrity-interactive.com or +33 607 935 165. Integrity’s website is: www.integrity-interactive.com.

Most discussions relating to corporate governance in the Western world conclude that there are different attitudes to ethics and compliance in Europe and the US. The argument goes that American companies are concerned with the compliance side of the equation – driven to react to regulators with legally-focused regulatory solutions – while European firms have the freedom to concentrate on corporate ‘ethics’ – that is, creating a company culture that promotes its values.