FCA and FINRA shift attention to individual accountability with misconduct fines
Regulators are taking a hardline stance on personal conduct and accountability, as shown by the latest FINRA enforcement action against a broker for exam cheating, as well as a £1 million FCA fine against a CEO for “lack of integrity through misleading statements.
The “Senior Managers and Certification Regime” Explained
The Senior Managers and Certification Regime introduces added accountability measures for financial firms related to individual conduct to strengthen governance, improve culture, and protect market integrity.
DOJ’s CCO Certification Requirement: raising the stakes for CCO liability
Last year, the U.S. DOJ introduced a new CCO Certification Requirement, placing even greater liability at the feet of senior compliance officers. Does the new rule empower, or just add more weight to CCO shoulders?
Time to own up? FCA pursues senior execs in £18m enforcement
The FCA is pursuing action against three senior executives in an £18m enforcement. Accountability is on the rise, from increasing enforcement through to emerging regulation.