UK bankers jostle to be junior as tough rules kick in
Senior Managers Regime replaces a system that UK lawmakers criticised for giving illusory control over individuals with little prospect of enforcement action
Tue, Mar 08, 2016 - 5:50 AM
Public anger that so few senior bankers were punished after taxpayers bailed out the industry in the financial crisis has led to the rules that make it easier to hold them to account.
NEW rules to hold bosses responsible for wrongdoing at British banks is deterring some bankers from taking on senior management roles and even prompting big-hitters to play down their own importance, say legal and compliance specialists.