Trust Digest April 6, 2013


Five key findings from Barclays' Salz review
Nine months after Anthony Salz was drafted in to review the cultural standards and business practices at Barclays in the wake of the Libor-rigging scandal, the veteran lawyer today published his key findings.
Key Words: Libor Manipulation, Culture, Compensation, Leadership and Governance
Trust Issues: Ethics, Integrity, Accountability, Reputation


Building Investor Trust: What works?
In its latest study, Hearts & Wallets, a retirement and savings trends research firm, found that less than 20% of Americans completely trust their financial services providers--a five point drop since 2010.
Key Words: Investment Results, Firm's Business Model
Trust Issues: Ethics, Integrity, Transparency, Accountability, Reputation


Spain’s royal family agrees to submit to transparency laws
Two days after King Juan Carlos’s daughter was charged in an embezzlement case, a palace source told Reuters on Friday that the royal household had accepted that it should be subject to the new freedom-of-information legislation, along with other organs of the state.
Key Words: Embezzlement, Public Scrutiny
Trust Issues: Accountability, Transparency Integrity, Ethics

 
Drug companies 'put profits over lives'
Drug companies "masterfully influenced" medicine, a joint review between Australian, British and US researchers has found, describing how the enormous profit involved in making and selling drugs gave the industry power to influence every stage of the health system.
Key Words: Clinical Practice Guidelines, Sunshine Act
Trust Issues: Accountability, Integrity, Ethics, Responsibility


Economics Trumps Integrity at Rutgers If Athletic Director Tim Pernetti Escapes Sanction
After the Mike Rice firing on Wednesday morning, ESPN cited a source close to the Rutgers University Board of Trustees who told “Outside the Lines” on Wednesday afternoon that Rutgers athletic director Tim Pernetti’s job was safe for now because of his prior work on getting Rutgers into a lucrative Big 10 deal last fall.
Key Words: Collegiate Athletics, University’s Brand
Trust Issues: Integrity, Ethics, Reputation, Responsibility

 
Want to be an international banker? You'll have to take an integrity test first
The Chartered Institute for Securities & Investment (CISI), a London-based professional body for individuals working, or seeking careers in wealth management and capital markets around the world, wants all of its members to undergo integrity screening or face losing their membership, as it battles to restore public faith in finance.
Key Words: Integrity Screening, Systematic Checks
Trust Issues: Integrity, Ethics, Accountability, Responsibility

 
5 years after financial crisis, survey highlights gains in savings and investing discipline
Americans have grown more cautious and disciplined in handling their money since the financial crisis struck in 2008, a survey by a leading mutual fund company suggests.
Key Words: Financial Crisis, Cautious, Disciplined
Trust Issues: Accountability, Responsibility

 
Why the Arkansas Pipeline Spill Won't Hurt Exxon Mobil's Reputation
The EPA calls it a “major spill” and the state’s AG has just announced an investigation. The situation is a textbook corporate reputation crisis. Only it hasn’t and won’t likely have much effect on Exxon Mobil’s reputation, and its PR strategy has nothing to do with it.
Key Words: Reputational Value, Predictive Analysis
Trust Issues: Accountability, Responsibility, Reputation

 
New chief starts job of restoring BBC's reputation
New BBC director-general Tony Hall took up his post on Tuesday, starting the task of restoring the reputation of the world's biggest broadcaster that has been rocked by a child sex abuse scandal.
Key Words: Winning Back Trust, Restoring Reputation
Trust Issues: Accountability, Responsibility, Reputation

 
The world’s oldest bank admits dodgy derivatives trades, fleeing depositors and a mysterious death caused “reputational damage”
Banca Monte dei Paschi di Siena (MPS), Italy’s third-largest bank and the world’s oldest, has admitted in a statement posted quietly on its website that its customer deposits have fallen by a “few billion euros.”
Key Words: Fraud Investigation, Misleading Regulators, Taxpayer Bailout
Trust Issues: Accountability, Responsibility, Reputation

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