Self-discipline The first pillar, self-discipline, refers to the strength of governance, processes, and internal controls of a firm. Our view has not changed over the years: directors are ultimately responsible and accountable for ensuring that a firm operates prudently.
Ref #8609867 v1.2  Page 4 of 7  Good self-discipline goes hand in hand with the culture of a firm and is key to ensuring high-quality outcomes for customers. Unfortunately, our recent review of life insurer conduct and culture found areas needing significant improvement. I will return to these findings later.