John Braithwaite is an Australian Research Council Federation Fellow and Founder of RegNet (the Regulatory Institutions Network), now School of Regulation and Global Governance (RegNet) at the Australian National University.
A new blog post on War•Crime•Regulation by John Braithwaite and Bill Dee looks at ethical compliance and management.
Bill and John begin the post, “Both of us have dedicated big parts of our lives to advocacy for compliance management in corporate Australia and internationally. We take some satisfaction in the way this aspect of corporate social responsibility has developed. Yet we have one big worry —that the compliance management field has become too narrowly focused on ensuring that firms comply with the law. Too technocratic and weakly imbued with an ethical sense of vocation.
“Recent catastrophes of the world economy highlighted the problem. There was more than a bit of lawbreaking at the root of the Global Financial Crisis, but the more widespread cause was legal forms of deception – using structured financial products to pass risks onto people who did not understand that they were buying risks that had been shifted to them by banks. The old fashioned responsibility of banks to manage risks had become a new art form of risk shifting.
Read the entire blog on War•Crime•Regulation.