LSE’s Conduct Costs Project

The London School of Economics has been concerned about conduct costs – which are an important phenomenon in the financial markets – for some time and the numbers are getting bigger and bigger. In the above video, Professor Roger McCormick, who is the Director of the Sustainable Finance Project, shares the Conduct Costs Project’s vision with the world.

The aggregate five-year figure for the ten banks in the project’s sample is a whopping £150 billion. Compare that to the annual budget for the National Health Service which is just over £100 billion (but please do note that the NHS is the world’s fourth largest employer). So since everyone – the banks, the regulators and the public – has a stake in the future of (sustainable) banking in the post-LIBOR scandal era, Roger would like to encourage people to post constructive articles on the LSE’s Conduct Costs Project Blog.

More information about the project is set out below.