Partnerships in Building Ethical Norms: Governance & Culture Reform in the Financial Services Industry

October 19, 2020


For several years, the New York Fed has drawn attention to culture and conduct in the financial services industry and encouraged the industry to work together to improve standards. To continue this initiative in a virtual environment, the Bank is hosting a series of webinars highlighting current work and scholarship in this area.

The first of these events, “Partnerships in Building Ethical Norms,” took place on October 19, 2020.

The webinar highlighted two initiatives in which the New York Fed has worked with the industry to promote ethical norms: the Education and Industry Forum’s case studies, which present ethical dilemmas faced by junior employees in financial firms, and the FX Global Code, a set of principles for participants in the international foreign exchange market published in 2017.

Event Details

Date & Time
October 19, 2020
9:00am - 10:00am


The event was open to the public and the media. All remarks were on-the-record, unless otherwise noted, and the event was recorded.

9:00am-9:05am Opening Remarks

John C. Williams, President and CEO, Federal Reserve Bank of New York
9:05pm-9:55pm Panel—Partnerships in Building Ethical Norms

Moderator: Thomas Noone, Counsel and Assistant Vice President, Federal Reserve Bank of New York

William Boulding, Dean and J.B. Fuqua Professor of Business Administration, Duke University, Fuqua School of Business

Emmanuelle Bury, Chief Compliance Officer, BNP Paribas Americas

Maria Douvas, Managing Director, Legal & Compliance Division, Morgan Stanley

Anna Nordstrom, Senior Vice President, Federal Reserve Bank of New York

Jacqueline Welch, Chief Human Resources Officer and Chief Diversity Officer, Freddie Mac
9:55am-10:00am Closing Remarks

John C. Williams, President and CEO, Federal Reserve Bank of New York


Visit the New York Fed's page on Governance and Culture Reform.
The EIF produces educational resources for use in business education and industry learning and development courses. Learn more about the EIF Case Studies.
The FX Global Code August 2018 (Global Code) is a set of global principles of good practice in the foreign exchange market, developed to provide a common set of guidelines to promote the integrity and effective functioning of the wholesale foreign exchange market.

The contents on this page—including third-party resources, hyperlinks and documents—are provided for informational purposes only and do not necessarily represent the views of the New York Fed or the Federal Reserve System.

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