Our latest research (with London Business School) surveyed 2,500 employees in 3 large FS firms. We explore how competition makes people feel – and how that affects the way they act.
A get-tough approach to poor performance in financial services is creating a climate of fear. And that risks breeding more unethical conduct, not less – exactly the opposite of what regulators, businesses and the public want. The threat of fines, bonus clawbacks and even prison won't on its own prevent further misselling and market-rigging scandals.