About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

90 Tul. L. Rev. 1181 (2015-2016)

handle is hein.journals/tulr90 and id is 1243 raw text is: Regulatory Convergence and Organizational Culture Arthur B. Laby* I. INTRODUCTION ........................................................................... 1181 I. REGULATORY HARMONIZATION FOR BROKER-DEALERS AND INVESTMENT ADVISERS ..................................................... 1183 IlI. THE FUNCTION OF BROKER-DEALERS AND INVESTMENT A DV ISERS ................................................................................... 1185 A . Broker-D ealers ................................................................. 1185 B. InvestnentA dvisers ......................................................... 1187 IV ORGANIZATIONAL CULTURE ...................................................... 1188 A. The Importance of Organizational Culture ..................... 1188 B. Employee Compensation andFlin Culture ................... 1190 V BROKER-DEALER AND INVESTMENT ADVISER CULTURE ......... 1192 A . Broker-D ealem ................................................................. 1193 B. InvestmentA dvisers ......................................................... 1198 C Law as a Reflection of Culture ........................................ 1200 VI. THE EFFECT OF CULTURE ON HARMONIZATION ........................ 1203 VII. THE EFFECT OF HARMONIZATION ON CULTURE ........................ 1206 V III. C ONCLUSION .............................................................................. 1208 I. INTRODUCTION Organizational culture-a system of shared assumptions that define an organization-is deeply embedded in most firms. Culture affects everything, or nearly everything, that happens in an organization, including important decisions-such as who is promoted, hired, and fired-how people act around one another, and even what people wear. Not surprisingly, culture also can determine a firm's flexibility and its ability to undergo change. Financial services regulators are moving along a path toward regulatory convergence or regulatory harmonization, which will require certain financial services firms to transform. Yet regulators * © 2016 Arthur B. Laby. Professor, Rutgers Law School. I am grateful for comments offered by Onnig Dombalagian, Jeff Farrar, William Nelson, and Robert Plaze. Michael Eleneski provided excellent research assistance. 1181

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most