Rules designed to hold executives to account arrive into effect alongside modern offence of failing to prevent bank collapseThe City’s top regulator has said a modern system designed to hold bank executives to account is “not about trying to get heads on sticks”.
The modern 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, or though Tracey McDermott,the acting head of the Financial Conduct Authority, insisted it would still beget a major impact. Related: Jeremy Corbyn claims City firms treat ordinary workers like 'cash cows' Continue reading...
Source: theguardian.com