GLC's Principal Solicitor has delivered a speech today at the University of Glasgow's Ethics Colloquium on behalf of the UK's Financial Services Consumer Panel.
Mike suggested that many
of our financial scandals and problems can be traced back to a lack of professional ethics in our banking system, and that ethical failure was a causa causans of so many of the UK's and international communities recent financial
problems. Mike's speech is available here. (Mike's evidence on behalf of the FSCP to the Parliamentary Commission on Banking Standards is here).
For over four years now the UK has been hit, virtually weekly, by corporate scandals and failures attributable arguably to a lack of ethical behaviour at high levels. The Bank of Scotland, The Metropolitan Police, Arthur Andersen, Lloyds, South Yorkshire Police, BBC, Glasgow Rangers, HBOS, News International, MPs expenses and LIBOR rate fixing.
Glasgow University's colloquium has sought to analyse the causes of this culture and if this is now a permanent state of affairs or an issue which can be addressed. Can others learn from the medical and legal professions? Is there a role for education as well as regulation and sanction?
Held in the Court and Senate Suite of the University the event heard from high profile speakers from business, the professions and academia seeking to address the downward cycle of public and business behaviour. The speakers included:
· Sir Kenneth Calman, Chancellor, University of Glasgow, and former Chief Medical Officer for England; and Scotland
· Emeritus Professor Stewart Hamilton, IMD, Switzerland
· Harry Reid, The Herald
· Bruce Ritchie, Law Society of Scotland
· Mike Dailly, Financial Services Consumer Panel
· Tom Craig, Craig Corporate
· Douglas Mill, University of Glasgow, School of Law