Reconstruction of ethical conduct within financial firms

This chapter looks at how an organisation can send conflicting or ambivalent messages to its members about its preferences in relation to unethical practices, through its use of rewards and prohibitions. It establishes the link between the internal workings of the firm and regulatory traction. The chapter discusses the relationship between the ethical values of individuals and their workplace behaviour. Within the business ethics and economic psychology literature there are a number of recent studies that can be used to explore the ethical positions of professionals in the finance sector. The culture within financial firms has been the subject of much speculation, following the global financial crisis (GFC). Post GFC, these strengthened statements and codes are going to be driven into the culture of firms through an intensive training programme; beginning with the organisations' leaders again these sorts of initiatives were common before the GFC.