The Group of Thirty, a private, nonprofit, international group of senior representatives from the private and public sector, recently released a report entitled “Banking Conduct and Culture: A Call for Sustained and Comprehensive Reform”. The report is the culmination of a year-long study, including nearly 80 interviews in 16 countries with central bankers, boards of directors and senior management. The report recommends a set of comprehensive reforms aimed at improving culture and conduct at banking organizations including addressing compensation, implementing an effective three lines of defense, changing staff recruiting and training methods, and increasing the involvement of boards of directors and senior management in addressing cultural issues at their firms.

The report is available at: http://group30.org/images/PDF/BankingConductandCulture.pdf