On July 22, Martin Wheatley, outgoing chief of the Financial
Conduct Authority (FCA), declared that conduct was at the top
of UK bank agendas. Over the following weeks, it's become
increasingly clear that Wheatley's statement rings true for a
much broader range of market participants.
While 2015 hasn't seen the explosive revelations of previous
summers (Forex in 2013, Libor 2012, Lehman 2008), it has been
defined by scandals. Not their occurrence, but rather their
punishment and regulatory response.