A speech by Greg Medcraft, Chairman, Australian Securities and Investments Commission to the Thomson Reuters 4th Annual Australian Regulatory Summit (Sydney, New South Wales) 21 June 2016
Introduction
Thank you for inviting me to speak at the Regulatory Summit today.
Today I’d like to talk about why culture matters, and what is the role of the board, senior executives, and staff of an organisation in respect of culture.
Why culture matters
Culture is a set of shared values or assumptions. It can be described as the underlying mindset of an organisation. It shapes and influences people’s attitudes and behaviours towards, for example, customers and compliance.
It has been said that ‘culture is the new black’. It is on the minds of governments, regulators, boards, senior executives, and customers globally.