The U.K. Financial Conduct Authority’s (FCA) decision to ban the former chief executive officer of Barclays for misrepresenting his relationship with Jeffrey Epstein has seemingly reaffirmed the notion that everyone—even the boss—is accountable for their actions.

Neil Hodge is a freelance business journalist and photographer based in Nottingham, United Kingdom. He writes on insurance and risk management, corporate governance, internal audit, compliance, and legal...