Clifford Chance
Changing the agenda - The role of corporate governance and risk mangement in financial regulatory reform
29 March 2011
Banks must continue to overhaul their corporate governance and risk management structures and practices in response to the financial crisis.
And policymakers and regulators must ensure that their efforts to reform the financial services sector creates a level playing field in regulation across all jurisdictions.
Banks' efforts to address the weaknesses in their approach to governance and risk management that came to light during the financial crisis will require chief risk officers (CROs) and non-executive directors (NEDs) to play an increasingly important role in changing the culture of financial institutions.
These are some of the main conclusions to emerge from a series of round-table discussions held by Clifford Chance between 2009-2010 to debate the role of corporate governance and risk management.
Senior figures from the financial services sector, including chief executives of major international banks, CROs, NEDs, macro-economists and regulators, participated in round tables held in Frankfurt, London and Zurich to consider the key issues and to share their insights.
With no sign of a slow-down in the pace of regulatory reform and the continuing focus on the future of banks, Clifford Chance has published a summary of these round-table meetings as part of its commitment to promoting a balanced and informed assessment of the role of corporate governance and risk management in financial regulatory reform.
