Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow.
Following the financial crisis banks’ senior management have come under increasing regulatory scrutiny and in some jurisdictions proposals have been put forward to make it easier to make them accountable for their actions.
To help you keep up to date with current developments, Norton Rose Fulbright LLP has produced a comparative analysis of how senior management responsibility in banks is being treated in different jurisdictions around the world.
View Senior management responsibility in banks, 24 September 2014
Additional authors included:
Alan Bainbridge (London, Africa), Kenneth Gray (London), Simon Lovegrove (London), Martin Gdanski (Paris), Marta Kawecka (Warsaw), Gennaro Mazzuoccolo (Milan), Jay Modrall (Brussels), Floortje Nagelkerke (Amsterdam), Sun Hong (China), Bridget King (South Africa), Craig Loveless (Singapore), Anna Tipping (Singapore), Jon Perry (Hong Kong), Charlotte Robins (Hong Kong) and Tasdikiah Siregar (Jakarta).