1. Articles & Papers

    The following library of our Articles & Papers include publications across a range of topics from the Conduct Costs Project.

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    • Date 2015-05-14 00:00:00 +0100
      Autor Roger McCormick and Chris Stears
      Text The CCP Research Foundation's Conduct Costs Project, working with ShareAction, presents here a working paper on a framework for the public disclosure of conduct costs by banks within their Annual Reports. The proposal, which aims to resolve the issues with current...
    • Autor by Asad Khan
      Text The world of banking is awash with scandals of every conceivable variety. Common people are so far removed from elite decision-making that they have no role to play in the processes of change. This article argues that the league table for banks developed by the Conduct Costs Project provides a much-needed voice to the disempowered majority, i.e. common people who are routinely called upon to...
    • Autor by Roger McCormick
      Text It's fair to say that the general reputation of the banking sector remains very low in 2015 even though some years have now passed since the global financial crisis. As our Conduct Costs Project has shown, the level of fines and other "conduct costs" suffered by major international banks has reached extraordinary proportions. And, in addition to fines and compensation, the public response to...
    • Autor by Calvin Benedict
      Text The analysis of this paper is structured in two parts. Part A examines the Financial Conduct Authority’s regulatory focus on conduct risks, including definitional issues and its relationship to conduct costs. Part B presents my view on the materiality of conduct costs. The materiality discussion looks at the evolution of corporate reporting to accommodate shareholder and stakeholder needs, the...
    • Autor by Calvin Benedict
      Text Beyond the requirements of the law, beyond compliance there is an ongoing debate as to whether banks have a greater external moral and social obligation. These obligations typically fall under the dynamic and extensive literature on corporate social responsibility (CSR). Several definitions of CSR currently exist. However, in essence, CSR examines the role of corporations in society beyond...
    • Autor by Roger McCormick
      Text As we developed our research programme for the first phase of this project, our working definition of Conduct Costs evolved, informally, as the experience of research brought up various questions for "in or out" decisions. The working definition is reflected in the Overview of the Project set out in this blog. Defining Conduct Costs is important because one of our objectives, as regular readers...
    • Date 2013-12-11 00:00:00 +0000
      Autor by Calvin Benedict
      Text Earlier this year, Chancellor George Osborne made an impassioned pledge to “reset the banking system”.The onslaught of fines, lawsuits and settlements which have followed are clear indications of regulators as well as politicians seeking to placate public opinion through compensatory justice for current and past misdeeds by financial institutions. Indeed, a Financial Times article in December...
    • Date 2013-11-21 00:00:00 +0000
      Autor by Chris Stears
      Text On 1 October 2013, the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013 came into effect. The material change introduced by the Regulations was a requirement for certain companies to prepare a strategic report as part of their annual report (s. 414C of the CA 2006). This will apply for periods ending on or after 30 September 2013. The 'strategic report' replaces the...
    • Autor by Chris Stears
      Text The ‘huge’ fines being meted out by law enforcement agencies and regulators across the banking sector are ‘material’ (by most stakeholder's reckoning). Prudential regulators are certainly alive to these costs. Take for instance, the impact of conduct cost expenses on UBS’s bottom line – the bank reported on Tuesday that the Swiss Financial Market Supervisory Authority was forcing it to hold...
  1. The CCP Research Foundation is a new, independent social enterprise vehicle, set up to foster and support a new generation of research projects on the theme of "Conduct, Culture and People."  

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