Hector Sants blames much of financial crisis on culture
FSA chief executive Hector Sants has lamented evidence that the "behavioural issues" which contributed to the financial crisis are still being observed in some major firms.
Unacceptable culture within firms was a major contributor to the financial crisis and so regulators should play a greater role in judging how culture drives firms' behaviour and impacts on society as a whole, says Mr Sants.
In a speech at the Chartered Institute for Securities & Investment (CISI) conference in London entitled, ‘Do regulators have a role to play in judging culture and ethics?', Mr Sants discussed his personal view that many of the causes of the financial crisis were deeply rooted
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