FCA throws down the gauntlet on culture | KPMG | UK

FCA throws down the gauntlet on culture

FCA throws down the gauntlet on culture

Responding to the FCA’s discussion paper on transforming culture in UK financial services, Jon Holt, Head of Financial Services KPMG UK says:

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Responding to the FCA's discussion paper on transforming culture in UK financial servies, Jon Holt, Head of Financial Services KPMG UK says:

“Having thrown down the gauntlet for firms to talk openly and honestly about culture, the FCA has taken a new approach to an old problem. Market conduct has plagued financial services for far too long. Culture needs to change and firms will welcome the invitation to collaborate on how to overcome the challenges that involves.

“Perhaps most importantly, as workforces change, competition intensifies and financial services becomes increasingly digital, we have to make sure the current level of scrutiny on culture and conduct is maintained.”

 

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KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 14,500 partners and staff.  The UK firm recorded a revenue of £2.2 billion in the year ended 30 September 2017. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 152 countries and has 189,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

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