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FCA looks to beef up accountability

Six months after the Senior Managers Regime took effect, the City regulator wants to extend rules to cover non-execs at banks and insurers

FCA looks to beef up accountability
Photo: iStockPhoto

The City’s top regulator is looking to strengthen efforts to make executives personally responsible for misconduct, including extending rules to cover non-executive directors of banks and insurers.

The Financial Conduct Authority is doubling down on personal accountability as it marks six months since the implementation of the Senior Managers Regime, and said in a statement on September 28 that the proposed rules "will reinforce the importance of individual accountability at the most senior level of organisations."

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