Experts: No easy fix for U.K. senior manager accountability shortcomings
By 
Neil Hodge2024-02-23T12:22:00
U.K. bosses are unlikely to face fines, jail time, or any other sanction if the companies they run are involved in economic or corporate crime, according to research by Spotlight on Corruption.
The campaign group’s report, “Power Without Responsibility,” found the U.K.’s main investigatory and enforcement agencies responsible for prosecuting serious economic and financial crime have dismal prosecution records against senior executives at large firms.
Since 2013, 6 percent of the investigations carried out under the Financial Conduct Authority’s (FCA) senior managers regime have resulted in any enforcement action, the group found.
Related articles
-
PremiumU.K. regs up pressure on debt collection practices
Debt collection has become a hot topic as U.K. regulators pile pressure on utilities and financial services companies to improve how they treat customers in arrears.
-
News BriefN.Y. compliance officer charged for embezzling $200K from employer
A New York-based chief counsel and compliance officer was charged for embezzling more than $200,000 from the consulting firm he worked for, the Manhattan District Attorney’s Office announced.
-
PremiumU.K. push for more listings to lower bar on governance?
Moves by the U.K.’s financial regulatory body to encourage companies to list in London might fail to deliver or send mixed messages about the value placed on corporate governance, according to experts.
More from Regulatory Enforcement
-
ArticleFlorida seafood exec faces 10 years for crab claw price fixing
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
-
ArticleFormer U.S. clothing business CEO faces 25 years for bribery in Honduras
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
-
News BriefDOJ sues Uber over alleged discrimination against disabled riders
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.