Accounting & Finance Research Community Seminar – Professor John Ashton

Title: Mapping the Slippery Slope. Social Norms, Consumer Vulnerability and Economic Activity as Causes of Financial Misconduct
Date: 18 January 2023
Time: 14:30-15:30
Location: FDC 2.16

Guest Speaker: Professor John Ashton, York University

If you would like to attend, please register using the following link: https://forms.office.com/r/44h1syrSpp

Abstract
This study considers the distribution of financial misconduct across the United Kingdom. Using data from 99,549 regulated financial firms, we test whether this distribution is highly dispersed and associated with the economic status, the proportion of vulnerable customers and/or the social norms prevailing in an area. We report that the distribution of financial misconduct is highly uneven across the UK. This dispersion is associated with economic factors, social norms and the vulnerability of customers. We recommend that financial regulators need to acknowledge the importance of social norms in financial regulation as well as economic and consumer protection concerns.