Tag Archives: Accountability
MANDATORY REFERENCE CHECKS TO STOP ROLLING BAD APPLES – MAS ISSUES CONSULTATION PAPER ON PROPOSED REQUIREMENTS
On 6 July 2018, the Monetary Authority of Singapore (MAS) issued a Consultation Paper which, among other things, proposes requirements for Financial Institutions (FIs) to conduct and respond to reference checks on representatives (Reference Check Consultation Paper). Submissions on the … Continue reading
FEMR Progress Report: The HM Treasury, the Bank of England (BoE) and FCA have today published the 2018 Progress Report on the Fair and Effective Markets Review (FEMR).
On 20 April 2018, the Financial Stability Board (FSB) released its long awaited toolkit (Toolkit) for firms and regulators’ use in fighting misconduct risk. The Toolkit forms part of the FSB’s workplan to mitigate misconduct risk, and builds on existing … Continue reading
Regulators throughout the world are increasingly focused on holding individual corporate executives accountable for corporate wrongdoing. Recent pronouncements by the U.S. Department of Justice, legislation in the United Kingdom imposing liability on senior managers, and detentions of senior executives in … Continue reading
US: Applicability of business judgment rule to bank officers to be considered by Supreme Court of Georgia
As the UK Government shapes, and reshapes, provisions in the Financial Services (Banking Reform) Bill to make individual accountability a reality for senior individuals within banks (and now also more widely within PRA-regulated investment firms with permissions to deal as … Continue reading