Attention Quote by Daniele Nouy
“The financial crisis has underscored how insufficient attention to fundamental corporate governance concepts can have devastating effects on an institution and its continued viability. It is clear that many banks did not fully implement these fundamental concepts. The obvious lesson is that banks need to improve their corporate governance practices and supervisors must ensure that sound corporate governance principles are thoroughly and consistently implemented.”
About This Quote
Source Report, 2020, Financial Regulation
Neglecting corporate governance leads to crises; banks must adopt sound governance and regulators must enforce it.
In simple terms: Poor governance causes financial crises; enforce strong oversight.
Implement robust governance and oversight.
Themes
Mood
Type
When to use this quote
- banking
- regulatory bodies
- investment firms
Key Concepts
Questions to Reflect On
- How can governance be improved cost‑effectively?
- What incentives drive compliance?
Implementation can be costly and face resistance.