Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

U.K. Parliament Scraps ‘Burden of Proof’ for Bankers

Aarti Maharaj | December 16, 2015

The U.K. government has watered down accountability rules to hold senior bankers liable for employee misconduct.

After much debate, the U.K. Parliament’s Treasury Committee made a last minute change to abandon the “burden of proof” rule for bankers, said a Financial Times report.

The rule could have held senior managers accountable for employee misconduct with the possibility of a fine or a potential ban. As Compliance Week previously reported, this move comes at a time where the financial industry is gearing up to tackle new regulatory changes that will hold bankers accountable for their actions. News reports...

Buy this article for $49, or subscribe to Compliance Week for a month at $149 and get unlimited article access for 30 days.