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<p>The Government welcomes the Financial Conduct Authority’s recent discussion paper,
‘Transforming Culture in Financial Services’. The Government has implemented a number
of reforms since the financial crisis to improve conduct and encourage a more positive
culture in the financial services sector, including through the introduction of the
Senior Managers and Certification Regime. The Government will continue to engage with
the financial regulators and industry to progress this important issue, including
to consider the views raised in this discussion paper.</p>
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