Fresh batch of bankers to be brought within landmark accountability scheme on Tuesday

More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com However, the regulator’s director of enforcement and market oversight, Mark Steward, remarked in a speech at the start of this year that the new Senior Managers’ rules had pushed the agency to rethink its approach for blockbuster penalties.”We don’t expect senior managers to agree so readily to pay high fines to resolve cases,” said Steward. “We expect there will be more contest and more litigation.” whatsapp whatsapp Sunday 5 March 2017 7:12 pm Hayley Kirton by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeAnyMuscle9 early warning signs and symptoms of diabetesAnyMuscleOutdoorsomeThe best of US National Parks, hiking, and outdoor adventuresOutdoorsomeanymuscle.com15 Symptoms of Diabetes You Shouldn’t Ignoreanymuscle.comPhoto StickHow To Backup All Your Old Photos In SecondsPhoto StickUnited Naturals GutConnect 365 SupplementHow To Entirely Empty Your Bowels Each Morning {1 Min Routine}United Naturals GutConnect 365 SupplementWorldLifeStyleMan Leaves After Card Declines, Returns With A CopWorldLifeStyleBestycatsThe Only Car That Can Repair ItselfBestycatsTruck Driver Jobs | Search adsTruck driving may be more lucrative than ever! 2021 salaries may surprise you.Truck Driver Jobs | Search adsMobiSpirit40+ Celebrity Couples That Prove True Love ExistsMobiSpirit Even more bankers are to be brought within the remit of the Senior Managers’ and Certification Regime on Tuesday, one year after the first tranche of rules came into force. Under the Certification Regime, which is designed to increase levels of personal accountability in the financial sector, banks are required to identify any workers who could pose “significant harm” to their clients or the firm itself. Those affected, such as mortgage advisers and junior investment bankers, will be issued with a certificate from their firm stating they are “fit and proper” to carry out their jobs, and added to the Financial Conduct Authority’s (FCA) list of senior managers the regime already applies to. These certificates will need to be updated yearly.Read more: It’s official: This is the deadline if you want to make a PPI complaintThe Sunday Times reported this next branch of the scheme could apply to more than 35,000 staff members.The Senior Managers’ Regime, which focuses on those who hold critical roles at the firms caught by the rules, came into force on 7 March last year.The Senior Managers’ and Certification Regime is due to be extended to other financial sector firms at some point in 2018. Share Fresh batch of bankers to be brought within landmark accountability scheme on Tuesday Read more: City watchdog launches consultation over plans to shake up the IPO processThe chief executive of the FCA, Andrew Bailey, has previously said he hopes the regime will prevent any crisis similar to the one in 2008.”I hope that it would have contributed significantly to creating an environment where people say: ‘I won’t do the sorts of things that I did do, because I know much more clearly now what the consequences of those actions would be,'” he said last year in an interview with ITV News at Ten.The FCA has secured a number of sizable fines in recent years for wrongdoings by companies in the financial services sphere. According to figures cited in January, the City watchdog, along with its predecessor the Financial Services Authority, has slapped firms with more than £3bn in penalties over the course of five years. Read more: HSBC reveals it’s being probed over money laundering issues

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