Much of what occurred in the Global Crisis was, in the exquisite phrasing of the eminent socio-legal scholar Professor Doreen McBarnet, ‘perfectly legal.’ There is common agreement among policymakers and practitioners that the crisis demonstrated an ethical failure. The ethics program of research explores the reasons for this and how it can be addressed. It evaluates the purpose and efficacy of codes of conduct at both corporate and professional level. It assesses the extent to which regulatory agencies can embed higher standards of ethics through the use of pro-active strategies.
The Institute of Directors for Southern Africa has issued The Code for Responsible Investing in South Africa which gives guidance on how the institutional investor should execute investment analysis and investment activities and exercise rights so as to promote sound governance.