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The traditional pressure in academia for faculty to "publish or perish" advances knowledge in established areas. But it also might discourage scientists from asking the innovative questions that are most likely to lead to the biggest breakthroughs, according to a new study spearheaded by a UCLA professor.
New research suggests a significant number of national and international American banks hired new Chief Risk Officers to mitigate risk but may have actually helped lead the industry into widespread insolvency.
Starting in the 1990s, many major banks hired Chief Risk Officers (CROs) in a response to new laws and regulations put in place following financial meltdowns in the 1980s. In an effort to comply, banking officials elevated risk analysts to corner offices to show they were serious about tackling risk.
At the 2014 Annual Meeting in San Francisco, Executive Officer Sally Hillsman, met with the Committee on Professional Ethics (COPE) and suggested that it was time to revise the Code of Ethics. Revisions were last made to the Code 20 years ago, and a great deal of change had taken place. Regulatory and technological advances have had striking impacts on the field. At the time, the Department of Health and Human Services was about to announce changes to The Common Rule, which governs the vast majority of human subjects research efforts.
Financial crises tend to have a long-lasting effect on societies. COVID-19 will be no exception given that its economic and social impact is fueled by a public-health emergency that is difficult to curb and that is putting tremendous pressure on healthcare systems around the world.