Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
NEW YORK (Thomson Reuters Regulatory Intelligence) - Large banks have a huge blind spot in their conduct and cultural reform programs by focusing their efforts too narrowly on individual employees rather than understanding the climate of the teams in which they operate. In other words, they look for “bad apples” and ignore the corrupting role of the barrel.
NEW YORK (Thomson Reuters Regulatory Intelligence) - Goldman Sachs' top management has been enlisted in a firm-wide initiative on conduct and culture issues. The global training sessions, sponsored by Chief Executive Lloyd Blankfein, have the firm’s partners and managing directors facilitating real-life work scenarios that encourage them to “anticipate the unexpected.”
WASHINGTON Goldman Sachs Group Inc has launched a global training initiative to safeguard the tight-knit culture it developed as a private partnership, even as the bank marks its 19th year as a publicly traded company.
NEW YORK (Thomson Reuters Regulatory Intelligence) - The behavioral science tools that major banks have begun to deploy allow them to mitigate risk and better understand the behavior of individual employees and groups. But the evidence and data accumulated so far is at an early stage, and more work is needed to share the insights learned as the industry tries to perfect a "behavioral engineering" approach.
NEW YORK (Thomson Reuters Regulatory Intelligence) - Banks are using the tools of behavioral science to combat misconduct and better understand the internal workings of their cultures, and current and former regulators at a Thomson Reuters forum welcomed what they see as an innovative effort that gives managers more influence and insight regarding their employees' motivations.
NEW YORK (Thomson Reuters Regulatory Intelligence) - Some of the largest U.S. banks are grappling with a relatively new regulatory requirement that forces them to identify all of their insured depositors in the event of a bank failure. While banks have until early 2020 to meet the Federal Deposit Insurance Corporation’s rules, called Part 370, experts say evidence on the ground suggests many fail to recognize how challenging it will be for them to comply.
NEW YORK (Thomson Reuters Regulatory Intelligence) - Traditional tools to combat misconduct and enhance internal cultures at banks, such as "tone at the top” messages from leadership and compliance surveys, are failing to achieve desired results, says Martin Wheatley, the former chief of the UK’s Financial Conduct Authority. Better use of data can help meet culture goals, despite limitations and challenges posed by privacy concerns, he said.
U.S. derivatives regulator tightens review for virtual currencies; defends 'self-certification' rules
NEW YORK (Thomson Reuters Regulatory Intelligence) - The top U.S. derivatives regulator last week announced stricter protocols for how virtual-currency derivatives come to market while also defending the ability for major exchanges to introduce new products through their own “self-certification” process.
NEW YORK (Thomson Reuters Regulatory Intelligence) - As debate intensifies among large U.S. firms over whether crypto-currencies like bitcoin are a passing fad or potential game-changer, recent enforcement actions suggest banks will need to adapt their compliance functions and processes if they plan to venture into this unchartered terrain.
NEW YORK (Thomson Reuters Regulatory Intelligence) - A growing number of American experts have taken aim at U.S. compliance programs that are “criminally based,” or driven by the priorities and standards of enforcement authorities. They argue that the effectiveness of such efforts to curb employee misbehavior is questionable, and that firms should incorporate behavioral science principles to get at the roots of ethical lapses.