One of the less palpable risks in conducting a financial institution may be that of managerial behaviour and culture. Even if the facts and figures of the institution point to robust health, behavioural risks may already be lurking beneath the surface. For this reason, the Dutch financial supervisory authority has developed a supervisory approach to risks related to behaviour and culture of the financial institution’s management. Some critics have argued however, that supervisory authorities may be overextending their competences with such a broad approach to financial supervision.
During this EU and Financial Law Clinic two eminent speakers will present the state of play.
At the Dutch Central Bank (De Nederlandsche Bank), Mr. Wijnand Nuijts has been responsible for developing the supervision of behaviour and culture. He will explain the foundations and methods of this supervisory activity and will present the first results.
Mr. Jean-Paul Servais, president of the FSMA and Vice-President of IOSCO, will then discuss how the FSMA approaches this new development, and what promises and challenges it holds in the context of conduct of business supervision.
Registration via the KU Leuven website