We all agree that Governments need to have good laws, institutions, and processes in place to ensure accountability, stability, equality, and access to justice for all. This ultimately leads to respect for human rights and the environment. It also helps lower levels of corruption and instances of violent conflict. This concept is called the "rule of law." There are great benefits to business, and other stakeholders, in respecting and supporting the rule of law. Where the rule of law is weak, it is harder for responsible businesses to function, and to meet their legal obligations and have their legal rights protected. Ms. Christina Koulias, Senior Manager, Anti-Corruption and Global Governance
Nowhere is implementing the rule so difficult as in Financial Services. One of the reasons is information asymmetry. Unlike many other industries, it is one where providers package products that they understand better than supervisors and consumers. Hence supervisors always play catch....
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