Regulatory Steps to Improve Corporate Culture and Individual Accountability in the Financial Sector
Five years ago, a Parliamentary Commission on Banking Standards recommended that measures should be taken to improve standards in the financial sector. As a result, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) introduced new rules for senior managers and changes to remuneration code. The Senior Managers and Certification Regime (SM&CR) and the Senior Insurance Managers’ Regime (SIMR) came into force on 7 March 2016.
Conservation, Culture, Commerce and Crime: Addressing the Problem of Ivory and Rhino Horn Product Markets
John Waites reports on a recent event at the University of Portsmouth, discussing the ethical and legal implications of ivory and rhino horn trade. The full article is available here.
Ethical AND effective:
Decision making for managers faced with ethical dilemmas
Our business ethics and corporate social responsibility expert, Dr Ana-Maria Pascal, has partnered with experienced businessmen and consultants Chris Rees and Paul Palmarozza, to offer training on how to make sound business decisions when faced with ethical dilemmas. Whilst the main context of the decision making exercises in this course is the UK Bribery Act (2010), the most stringent legislation in any country in the world, the emphasis of the training is on acting ethically across borders and despite differences in value systems.
This is a drama-based training programme designed to help company managers establish and maintain an ethical business culture in their organisation. This entails not only legal compliance with recent legislation such as the UK Bribery Act 2010, but also knowledge of – and commitment to – ethical principles that can be adopted as strategic guidance for successful business operations.
Based on real-world situations, the training combines role-playing with legal updates and debates on ethical dilemmas. It can be provided both face to face and online. You will be immersed in dilemmatic situations (e.g. to give or not to give a bribe, in cultures where this is common practice); our facilitators will guide you on how to reason when faced with such conundrums, and make decisions that will benefit your organisation whilst also satisfying the moral demands of your own conscience. By the end of this course, you will understand the main features of The Bribery Act 2010, and gain the ability to use key ethical principles to make decisions in the everyday running of your business.
Both face-to-face and online versions of the course will benefit from videos recorded specifically for purposes of this course. Our dramatic videos are based on real-life business scenarios. They are scripted by a BAFTA-nominated scriptwriter, performed by professional actors, and filmed to TV quality.
- Dr Ana-Maria Pascal, Senior Lecturer at Regent’s University London and leader of the Corporate Responsibility Network
- Chris Rees and Paul Palmarozza, Founders of Principled Business
To see a demonstration of the course, please go to http://www.principledbusiness.co.uk and click on ‘eLearning Demo’ button on the lower left-hand side corner of the home page.
Piloting the simulation in Business studies:
Students at Regent’s University London will benefit from using this simulation in Business Ethics classes. If you are interested to hear more about this, please get in touch with the Network leader, at firstname.lastname@example.org
Real Madrid Transfer Ban
4 March 2016
Real Madrid is a soccer team that operates in Madrid, Spain. Real Madrid have a team value of over $3.2 billion making them the most valuable soccer team in the world and allowing them to generate a revenue of nearly $750 million dollars last year (Forbes, 2016). Please click here to read the full article.
NBC News & The Ethics of the Brian Williams Scandal
28 January 2016
Journalist Brian Williams returned to NBC News in September of 2015, after a suspension from the network for six months without pay. The veteran news anchor was accused of making a series of false claims in his broadcasts, in a scandal that amounted to his losing his job as managing editor and lead anchor of NBC’s premiere evening newscast, “Nightly News,” and a highly publicized fall from grace. Please click here to read the full article.