Culture of non-compliance heightens reputational risk

Financial services firms are neglecting the role that compliance plays in making or breaking a company’s name, according to new research by PricewaterhouseCoopers (PwC) and the Economist Intelligence Unit. Poor compliance procedures and implementation could have a more serious effect on a company’s reputation with clients, as well as regulators, than realised, despite the report’s finding that over half of respondents see reputational risk as the biggest threat faced by financial services businesses.