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Experts Gather to Address Ethics, Regulation in Economic Downturn

A co-author of the Sarbanes-Oxley Act, the chairman of The BNY Mellon and others noted in the banking and investment industry will discuss new approaches and future directions for the banking and financial services industry at the Duquesne University forum Ethics, Regulation and Risk Management: A New Paradigm for the Financial Services Industry on Tuesday, April 21.

Designed to draw together professionals to explore how leaders in the financial services industry can re-establish stability in light of recent turns in the market, the event will feature keynote speakers Michael Oxley, former congressman and co-author of the Sarbanes-Oxley Act, and Robert P. Kelly, chairman and chief executive officer of Bank of New York Mellon.

A recent poll found that only eight percent of American consumers have full confidence in banks and other financial services companies.

“Public trust has been shaken, and these are three key paths to restoring trust and working through the crisis. We expect that our dialogue will expand awareness, capture important ideas and help to shape the conversation throughout the industry,” said Tom Nist, Donahue Chair in Investment Management at Duquesne University, who is a co-sponsor of this timely event.

Oxley’s keynote will follow morning sessions on ethics and regulation, which are aimed at combating this public perception. Oxley was integral in legislating 21st century standards for corporate transparency. Now, with the act in effect for seven years, the former Congressman will reflect on the act’s impact and offer his suggestions for additional changes in financial practice and corporate governance.

Following the risk management panel, Kelly will conclude the day with his comments on the interdependent roles of ethics, regulation and risk management in influencing the future of the industry. Kelly was among the first bankers called to Washington to discuss the crisis with Federal Reserve Chairman Ben Bernanke and former Secretary of the Treasury Henry Paulson. Additionally, Kelly has been asked to lead an effort to provide industry input on future bank regulation.

Each of the three panels will include a host of financial services, and regulation and compliance personnel. Additionally, attendees will gather in small discussion groups during the day’s networking breaks to address topics such as mark-to-market accounting, fiduciary standards and regulatory issues. Consensus opinions of these discussion groups will be reported to attendees and shared, as appropriate, with legislators and regulators.
The event is presented by Duquesne University’s Beard Center for Leadership in Ethics, the Donahue Chair in Investment Management of the Palumbo•Donahue School of Business and the School of Law’s Securities Arbitration Practicum, along with the Greater Pittsburgh Compliance Roundtable.

Ethics, Regulation and Risk Management will be held from 8 a.m. to 4:30 p.m. in Duquesne’s Power Center Ballroom. For more information, to register by April 13 and for a detailed schedule, visit www.business.duq.edu/financialsymposium or call 412.396.4005.

Duquesne University

Founded in 1878, Duquesne is consistently ranked among the nation's top Catholic universities for its award-winning faculty and tradition of academic excellence. Duquesne, a campus of nearly 9,500 graduate and undergraduate students, has been nationally recognized for its academic programs, community service and commitment to sustainability. Follow Duquesne University on Facebook, Twitter and Instagram.