Shirley 

QUO

Dr Shirley Quo is currently working on a research project for the Centre for Banking & Finance Law at National University of Singapore, Faculty of Law on the relationship between culture, governance and remuneration practices, and the risk of misconduct in the banking and finance sector in Australia. Prior to this, she was working as a Senior Lecturer at the University of Auckland, Department of Commercial Law, in New Zealand.  Dr Quo has also worked as a Senior Lecturer at Murdoch Law School in Australia and the Auckland University of Technology (AUT) Law School in New Zealand.

Dr Quo completed a Doctor of Juridical Science (SJD) degree at Monash University, Faculty of Law, Australia, in 2011.  Her research interests include company law, corporate governance, competition law (antitrust), insolvency law and corporate social responsibility.  She has held visiting positions at the University of Cambridge and Fordham University.  Her doctoral thesis focused on competition law and the misuse of market power provisions (monopolisation) of the Competition and Consumer Law Act 2010 (Cth).

Research Project

The relationship between culture, governance and remuneration practices, and the risk of misconduct in the banking and finance sector

• To examine the link between culture, governance and remuneration practices as the main drivers of misconduct or conduct falling below community standards and expectations in the banking and financial services industry.
• To identify, assess and evaluate the types of risk associated with misconduct, that is, compliance risk, conduct risk, regulatory risk, operational risk. These types of non-financial risks are more difficult to measure than most types of financial risks which are the traditional focus of a financial institution’s risk management systems and controls.
• To make policy recommendations that will enhance and improve the management of non-financial risks. Effective management of non-financial risks should reduce the risk of misconduct in future.
• The Commonwealth Bank of Australia prudential inquiry is used as a case study to illustrate the importance of managing non-financial risks in the context of the organisation’s culture, governance and remuneration systems.  As the case study showed, accountability of senior banking executives must extend to non-financial risks, in particular, conduct and compliance risk. The value of the inquiry goes beyond its application to CBA.  The report provides a very useful, publicly available account of the ways in which failings of culture, governance and remuneration can act as drivers of misconduct.  It also explains how those problems can be addressed.

Research Interests

• International Financial Regulation
• Anti-Money Laundering
• Corporate Governance, Culture and Criminal Liability
• Transnational, Financial and Corporate Crime
• Overcriminalisation and Preventive Justice
• Socio-Legal Studies
• Policy Studies

Selected Publications

• Quo S., ‘Addressing the risk of misconduct in the banking sector: the relationship between culture, governance and remuneration’ (2022) 43 (11) Company Lawyer (UK) 339-370
• Quo, S, ‘Secondary Boycotts and the Implied Freedom of Political Communication’ (2021) 28 Competition and Consumer Law Journal 195
• Quo, S, ‘The Elephant in the Room: Aligning Executive Remuneration with Community Standards and Expectations (the Australia Post Debacle)’ (2021) 42(8) Company Lawyer (UK) 254
• Quo, S, ‘Corporate Governance and Climate Change: What are the Obligations of Companies and Directors?’ (2020) 41(1) Company Lawyer (UK) 294
• Quo, S, ‘Corporate Culture, Governance and Remuneration: Is there a Role for Corporate Social Responsibility?’ (2019) 40(12) Company Lawyer (UK) 384
• Quo, S, ‘Executive Remuneration as a Mechanism for Corporate Governance in Australia’ (2018) 39(11) Company Lawyer (UK) 368
• Quo, S, ‘Update on Corporate Insolvency Reform in Australia: Safe Harbour Provisions for Directors from Personal Liability for Insolvent Trading’ (2018) 39(7) Company Lawyer (UK) 238
• Quo, S, ‘Corporate Insolvency Reform in Australia: Safe Harbour Provisions for Directors from Personal Liability for Insolvent Trading’ (2018) 39(6) Company Lawyer (UK) 207
• Quo, S, ‘The Moral Ambiguity of Insider Trading as a White-Collar Crime’ (2017) 38(7) Company Lawyer (UK) 203
• Quo, S, ‘Corporate Culture and Corporate Criminal Responsibility in Australia’ (2016) 37(12) Company Lawyer (UK) 389
• Quo, S, ‘Unilateral Conduct and the Role of the Purpose Test in Section 46 of the Competition and Consumer Act 2010 (Cth)’ (2016) 24 Australian Journal of Competition and Consumer Law 1 9