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Developing a culture of responsibility in a regulated environment


Publication date:

02 March 2016

Last updated:

18 December 2023


Policy and Public Affairs

How financial services regulation impacts on the development of an ethical culture. 

With the culture of financial services organisations a key focus of public and regulatory concerns, our ethical guidance series is intended to provide a helping hand to individuals and firms across insurance and financial services.  The introduction in the UK in March 2016 of the new Senior Managers & Certification Regime (SM&CR - for banking) and Senior Insurance Managers Regime (SIMR- for insurance) brings a renewed focus on culture for firms and personal responsibility for individuals.

Ethical culture: Developing a culture of responsibility in an regulated environment, which is the sixth paper in the CII ethical culture series, considers how financial services regulation impacts on the development of an ethical culture and is an update version of 2013 CII guidance (Ethical culture: securing an ethical culture in a regulated environment.

We have produced a pamphlet for practitioners entitled a practical guide to the CII code of ethics. This simple guide provides case studies to illustrate the five principles which underpin the CII's Code of Ethics. Your practical guide: Code of Ethics 

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This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.