Ethical culture: Securing an ethical culture in a regulated environment

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The changes made to the UK's financial services regulatory regime which came into effect in April 2013 transferred responsibility from the Financial Services Authority (FSA) to  the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA). The separation into two regulatory authorities has brought increased focus to their respective aspects of interest.

This paper considers how financial services regulation impacts on the development of an ethical culture and highlights pointers from within the regulation which can assist in securing ethical culture and behaviour.