Resources

Financial industry reforms place too much emphasis on risk control systems, missing the importance of influencing people's behavior, says Stephen Platt, author of "Criminal Capital: How the Finance Industry Facilitates Crime." He also discusses why clawbacks of banker pay, bonus caps and large fines against institutions that fail to deter to reckless conduct.

Stephen Platt, regulatory investigations consultant and author of "Criminal Capital: How the Finance Industry Facilitates Crime," explains his misgivings about the idea of a shared know-your-customer registry for the industry.