SFA Eases Proposals On Individual Accountability For Bank Failures


THE UK's Securities and Futures Authority (SFA) has backed off from proposals that would have automatically held a company's senior executives responsible for future Barings-style collapses of financial institutions (RMO, October 23, 1995).

However, the regulator is pushing ahead with proposals to force financial institutions to disclose the names of individual executives responsible for compliance with regulations.

Such disclosure statements would spell out the role of a bank's senior compliance

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