Tag Archives: Accountability

A NEW GLOBAL TOOLKIT FOR FIGHTING MISCONDUCT RISK: WHAT DOES THIS MEAN FOR FIRMS AND REGULATORS?

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

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Filed under Announcements, European Regulation, Hong Kong, Sector Updates by Herbert Smith Freehills

Navigating the Regulators’ Increased Focus on Individual Liability – A Global Perspective

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

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Filed under Americas, Corporate Crime, Uncategorized

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

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Filed under Americas, Banking, Investment banking, Retail Banks, US

Joint Parliamentary Committee reports on pre-legislative scrutiny of draft Financial Services Bill 2011

Today, the Joint Committee appointed by both Houses of Parliament to conduct pre-legislative scrutiny of the draft Financial Services Bill 2011, reported on its examination of the Bill. The report is critical of many aspects of the Bill as not … Continue reading

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Filed under FSA, JURISDICTIONS, Regulatory Reform, UK, UK Parliamentary Committees