Policies are rarely something that get people excited, but when it comes to the enterprise, they are the foundation for every risk and compliance solution. More importantly, regulators around the world and in every industry, rely on, and in many cases, require corporations to maintain and enforce policies. Policies are what keep your data private, ensure a fair playing field, and generally keep the world a safe place.
Is the Hayes/LIBOR sentence the beginning or the end?
Just two months ago – seems like yesterday – the news on the Street was Deutsche Bank’s agreement to pay a record $2.5 billion penalty for its role in the London Interbank Offered Rate (LIBOR) wire fraud scandal. Last week, a unanimous jury convicted London banker Tom Hayes to 14 years in prison –despite his pleading that his behavior was known and condoned by his employers.
What happens when monetary settlements don’t appease financial industry watchdogs?
So what’s bigger news: that Deutsche Bank recently agreed to pay a record $2.5 billion penalty for its role in the London Interbank Offered Rate (LIBOR) wire fraud scandal? That its Co-Presidents resigned amid shareholder furor? Or that, financial industry activists maintain monetary penalties aren’t enough to deter future fraudulent conduct?