The Globe and Mail reports in its Friday, Nov. 22, edition that the Office of the Superintendent of Financial Institutions is mandating financial institutions to address weaknesses in corporate culture, as well as the character of their boards and executives to prevent risks and financial crimes. The Globe's Stefanie Marotta writes that in a quarterly report, the OSFI stated that senior executives must model and reinforce culture through their actions and decisions, while boards should promote a risk culture that encourages integrity and effective risk management. Effective corporate culture ensures that employees are able to deal with challenging issues such as compliance risks, without allowing them to "languish for extended periods of time," said OSFI's Tolga Yalkin. He added, "Cultural behaviours and norms within financial institutions are key to ensuring that some of those risks don't come home to roost." The country's largest lenders have been under heightened scrutiny from regulators to crack down on financial crime and compliance breaches. Mr. Yalkin said Thursday that he could not discuss specific financial institutions or respond to questions about the effectiveness of bank boards in addressing risks.