In India we had the “derivatives” episode recently which was a case of inadequate application of “suitability and appropriateness” requirements and, consequently, was a case of governance deficit.
As such the Board of Directors and the senior management have a great oversight responsibility in ensuring that the respective banks lay down robust compliance culture and corporate governance framework which is reviewed periodically for its efficacy and efficiency. (iv)  Information asymmetry  36. Information asymmetry in a multiple banking scenario is a serious issue.