Financial Gatekeepers Warn Next Global Crisis is Imminent
A survey by Complinet found that 77% of respondents believe that regulatory reforms aren’t enough to avert another meltdown. The survey also found that the majority of regulatory experts questioned predicted the next significant economic downturn before 2015.
The survey also showed that only 40% thought their firm had changed its approach to compensating employees based on a better understanding of risks associated with the business. And 91% recognised that the current bonus culture is resented by those outside the financial services industry. But the survey also showed that 62% of senior management believe they’re putting the right controls in place.