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The CISI agrees with the Governor that there has been an “ethical drift” in standards and welcomes his determination to crack down on individuals who manipulate markets. Simon Culhane Chartered FCSI and CISI CEO, said “The Governor could do more to restore public trust by taking three simple preventative steps.
He should
1) Require anyone working in the financial sector to be a member of an accredited professional body with an established code of conduct
2) Require every individual working in the financial sector, before starting work, to take and pass an integrity test, similar to that already taken by over 25,000 people who either sit for the Chartered Institute for Securities & Investment’s wealth and capital markets examinations, or who are CISI members.
3) Lead by example and, additionally, ask every Bank’s CEO and Chairman to abide by 1) and 2)”
