Abstract
This Article argues that both the root cause of the crisis and the route to restoring trust and confidence is to be found in ascertaining how to regulate culture across mandates, processes, and use of discretion. Part II identifies the internal and external failings of four of the most recent global banking scandals within the CEDAR matrix. Part III discusses the regulatory challenges faced when compliance serves no practical function and the consequent material risk to market integrity. This Article concludes by suggesting that it is unsustainable for regulation to be decided, implemented, and monitored at a national level. Global oversight has become an imperative to reduce the conflicts of interest that may create profitable industries, but not socially beneficial ones.
Recommended Citation
Justin O’Brien and Olivia Dixon, The Common Link in Failures and Scandals at the World’s Leading Banks, 36 SEATTLE U. L. REV. 941 (2013).
Included in
Antitrust and Trade Regulation Commons, Banking and Finance Law Commons, Business Organizations Law Commons, Contracts Commons, Law and Economics Commons, Law and Society Commons, Legal Ethics and Professional Responsibility Commons, Legal Profession Commons, Securities Law Commons
