One of the problems with problems is that once you have one, it’s hard to prevent multiplication.
Case in point. Barclays. After the rate rigging scandal, Barclays changed CEOs. Had some problems with the insurance products it offered. Then it linked broker compensation at its wealth advisory arm to compliance with law and policy. More recently, it paid a quarter of a billion dollars to settle Fannie Mae/Freddie Mac issues.
Yesterday, at the annual meeting, shareholders objected loudly at proposed increases in compensation and bonus.
Was inability to pay enough to attract staff a risk identified as arising from rate rigging?
This isn’t so much an information governance issue as it is a risk assessment one. What is the total, all-in cost of noncompliance?
“Barclays Gets an Earful Over Its Pay Practices,” Wall Street Journal, April 25, 2014 C3 http://on.wsj.com/1iTEzdX