Rules designed to hold executives to account approach into effect alongside new offence of failing to prevent bank collapseThe City’s top regulator has said a new system designed to hold bank executives to account is “not approximately trying to procure heads on sticks”.
The new regulatory regime,which came into force on Monday and holds top executives responsible for failures in banks, has been watered down since it was first proposed, and though Tracey McDermott,the acting head of the Financial Conduct Authority, insisted it would still have a major impact. Related: Jeremy Corbyn claims City firms treat ordinary workers like 'cash cows' Continue reading...
Source: theguardian.com