Managing risk is the renewed task of management in the financial industry. The austere regulation of the financial industry seem to be the norm for small and medium financial corporations, while for big investors and with financial businesses there seems to be a laxity in supervision – perhaps because these large firms can afford to hire specialist of all sorts and experiences, they are expected to police themselves.
It is true that a systematic approach to enterprise risk management can produce business benefits which extend far beyond compliance, but the lack of ethics on the part of management only serves to expose the institutions and the investors to more than risk. Therefore, crisis of ethics in management is bad for the financial firm and worst for the industry.
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