Corporate culture and corporate regulation
A speech by Greg Medcraft, Chairman, Australian Securities and Investments Commission, Law Council of Australia BLS AGM seminar (Melbourne, Victoria) 20 November 2015
Thank you for inviting me to be a part of the seminar today.
As you know, I’ve been talking a lot about culture recently. One of ASIC’s key priorities is promoting investor and financial consumer trust and confidence. Trust and confidence is critical to the operation of the financial system. Poor culture can undermine that trust and confidence.
So, today, I’d like to start by addressing some fairly fundamental questions – what is corporate culture, and why does it matter? Secondly, I would like to talk about what a good corporate culture looks like and who is responsible for it. And, finally, I want to talk about what we can do to improve poor culture.