Conduct And Accountability In Financial Services

Author : Joe McGrath,Ciaran Walker
Publisher : Springer Nature
Page : 234 pages
File Size : 48,6 Mb
Release : 2022-01-01
Category : Social Science
ISBN : 9783030887155

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New Accountability in Financial Services by Joe McGrath,Ciaran Walker Pdf

This book is a critical examination of recently introduced individual accountability regimes that apply to the financial services industry in the UK (SMCR) and Australia (BEAR and the forthcoming FAR), together with a forthcoming new individual accountability regime ( in particular, SEAR) in Ireland. It provides a framework for analysing whether these regimes will achieve behavioural change in the financial services industry. This book argues that, whilst sanctioning individuals to deter future misconduct is an important part of any successful regulatory strategy, the focus should be on ensuring that individuals in the financial services industry internalise the norms of behaviour expected under the new regimes. In this regard, the analysis in this book is informed by criminological theory, regulatory theory and behavioural science. The work also argues for a “trajectory towards professionalisation” of financial services, and banking in particular, as an important means of positively influencing industry-wide norms of behaviour, which have a key influence on firms’ and individuals’ behaviours.

Author : Stacey English,Susannah Hammond
Publisher : Bloomsbury Publishing
Page : 359 pages
File Size : 42,7 Mb
Release : 2018-11-23
Category : Law
ISBN : 9781526505224

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Conduct and Accountability in Financial Services by Stacey English,Susannah Hammond Pdf

Are you fully prepared for the implementation of the Senior Managers and Certification Regime across financial services firms and the related regulatory scrutiny on conduct and accountability? The 2008 financial crisis sparked major changes in global financial services regulation with attention and resources focused on the behaviour of firms and senior individuals and how they conduct their business. Regulatory reforms have been designed and implemented globally to address accountability and conduct in financial services. In the UK this has resulted in the Senior Managers and Certification Regime (SM&CR) being implemented across all FSMA-regulated firms. Conduct and Accountability in Financial Services: A Practical Guide provides comprehensive and expert guidance on how best to implement and comply with the SM&CR. In addition to acting as a guide to rule book requirements and regulatory expectations, it provides an in-depth look at the implications of the global focus on culture and conduct risk. A must-read text for all staff in UK financial services firms, professional associations, industry bodies, regulators, academics and advisers to financial services organisations, it covers: The context and regulatory basis for SM&CR including an overview of the development and roll-out of the regime Analysis of key changes from the previous 'approved person' approach Practical considerations for HR, internal audit and non-executive directors The increasing role of culture and conduct risk A practical overview of enforcement, penalties and learning lessons from enforcement actions Overarching principles of how to manage personal regulatory risk Regulatory relationship management The impact of technology An overview of related global developments Appendices with timeline, bibliography and a selection of other useful sources for senior managers Conduct and Accountability in Financial Services: A Practical Guide is on the syllabus reading list for the Regulation and Compliance exam offered by the Chartered Institute of Securities and Investments.

Author : Peter Snowdon,Simon Lovegrove,Jane Walshe
Publisher : Unknown
Page : 636 pages
File Size : 55,7 Mb
Release : 2016-06-24
Category : Banking law
ISBN : 0414050738

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A Practitioner's Guide to Individual Conduct and Accountability in Financial Services Firms by Peter Snowdon,Simon Lovegrove,Jane Walshe Pdf

This title gives detailed and practical guidance on the new rules governing the conduct and behaviour of individuals in financial institutions, from obtaining approval through to supervision, enforcement and liability. Separate chapters will deal with different classes of individual, and the text will include checklists and case studies

Author : Eva H. G. Hüpkes,Marc Quintyn,Michael Taylor
Publisher : International Monetary Fund
Page : 58 pages
File Size : 48,7 Mb
Release : 2005-03
Category : Business & Economics
ISBN : UCSD:31822030947691

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The Accountability of Financial Sector Supervisors by Eva H. G. Hüpkes,Marc Quintyn,Michael Taylor Pdf

Policymakers' uneasiness about granting independence to financial sector regulators stems to a large extent from the lack of familiarity with, and elusiveness of, the concept of accountability. This paper gives operational content to accountability and argues that it is possible to do so in a way that encourages and supports agency independence. The paper first elaborates on the role and purposes of accountability. Second, it shows that the unique features of financial sector supervision point to a more complex system of accountability arrangements than, for instance, the conduct of monetary policy. Finally, the paper discusses specific arrangements that can best secure the objectives of accountability and, thus, independence. Our findings have a wider application than financial sector supervision.

Author : Justin O'Brien,George Gilligan
Publisher : Bloomsbury Publishing
Page : 511 pages
File Size : 45,6 Mb
Release : 2014-07-18
Category : Law
ISBN : 9781782253563

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Integrity, Risk and Accountability in Capital Markets by Justin O'Brien,George Gilligan Pdf

The global economy is yet to recover from the aftershocks of the Global Financial Crisis (GFC). In particular many national economies are struggling to adjust to austerity programs that are a direct result of the toxic effects of the crisis. Governments, regulatory agencies, international organisations, media commentators, finance industry organisations and professionals, academics and affected citizens have offered partial explanations for what has occurred. Some of these actors have sought to introduce legislative and other regulatory initiatives to improve operational standards in capital markets. However, the exposure post-GFC of the scandal surrounding the manipulation over many years of the London Interbank Offered Rate (LIBOR) highlighted that the most important obstacles to counter the destructive potential of our global finance system are normative not technical. Regulating the culture of the finance sector is one of the greatest challenges facing contemporary society. This edited volume brings together leading professionals, regulators and academics with knowledge of how cultural forces shape integrity, risk and accountability in capital markets. The book will be of benefit not only to industry, regulatory and academic communities whose focus is upon financial markets and professionals. It is of value to any person or organisation interested in how the cultural underpinnings of the finance sector shape how capital markets actually operate and are regulated. It is a stark lesson of history that financial crises will occur. As national economies become ever more inter-connected and inter-dependent under conditions of global financial capitalism, it becomes ever more important to know how cultural and other normative forces might be adjusted to militate against the effects of future disasters.

Author : David Michael Berman
Publisher : Unknown
Page : 210 pages
File Size : 54,8 Mb
Release : 2017
Category : Financial services industry
ISBN : 0414063864

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Senior Individual Accountability in the Financial Services Arena by David Michael Berman Pdf

Author : Eva H. G. Hüpkes,Marc Quintyn,Michael Taylor
Publisher : International Monetary Fund
Page : 34 pages
File Size : 47,7 Mb
Release : 2006-03-14
Category : Business & Economics
ISBN : STANFORD:36105121918986

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Accountability Arrangements for Financial Sector Regulators by Eva H. G. Hüpkes,Marc Quintyn,Michael Taylor Pdf

Policymakers are often reluctant to grant independence to the agencies that regulate and supervise the financial sector because of the fear that these agencies, with their wide-ranging responsibilities and powers, could become a law unto themselves. This pamphlet describes mechanisms for making regulatory agencies accountable not only to the government but also to the industry they supervise and the public at large, with examples from a range of countries.

Author : Thomas Ogg,Richard Leiper QC
Publisher : Taylor & Francis
Page : 450 pages
File Size : 41,5 Mb
Release : 2017-03-27
Category : Law
ISBN : 9781317189923

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Conduct and Pay in the Financial Services Industry by Thomas Ogg,Richard Leiper QC Pdf

Since the financial crisis, one of the key priorities of the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) has been individual accountability. This book addresses the regulatory and employment law challenges that arise from the FCA’s and PRA’s requirements. The expert team of writers examine in depth the provisions of the Financial Services and Markets Act 2000 which relate to individuals, and the associated requirements of the PRA and FCA. The topics addressed include: The Senior Manager, Certification and Approved Person Regimes Regulatory references and whistleblowing Disciplinary investigations, enforcement and sanctions Notifications, ‘Form C’, and fitness & propriety Bonus disputes and the Remuneration Code Conduct and Pay in the Financial Services Industry considers the full extent of an individual’s employment, from pre-contractual discussions to the post-termination clawback of remuneration. It is a vital reference for lawyers and human resources professionals working within the financial services industry, both in-house and in private practice. It will also be of interest to all academics, regulators and policy-makers involved in this sector.

Author : Eilís Ferran,Charles Albert Eric Goodhart
Publisher : Hart Publishing
Page : 357 pages
File Size : 53,5 Mb
Release : 2001-09-11
Category : Law
ISBN : 9781841132792

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Regulating Financial Services and Markets in the 21st Century by Eilís Ferran,Charles Albert Eric Goodhart Pdf

The essays in this work offer a high-level examination of the most important issues facing financial services regulation,and the far-reaching effects of the Financial Services and Markets Act 2000 on the UK financial sector in the context of rapid global change. Taking an interdisciplinary approach the book includes contributions by many distinguished academic authorities on the law and economics of regulation, and also some of the most influential practitioners, regulators and policymakers. As such it provides an authoritative analysis of the underlying issues affecting the broad development of financial services regulation: the objectives of regulation, the responsibilities of the regulated community, the accountability of regulators, the regulation of electronic financial markets and the impact of stock market mergers, regional regulation within Europe, and the development of global financial regulation.

Author : Eva H. G. Hupkes,Marc Quintyn,Michael Taylor
Publisher : International Monetary Fund
Page : 19 pages
File Size : 41,7 Mb
Release : 2006-01-01
Category : Electronic
ISBN : 1589065247

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Accountability Arrangements for Financial Sector Regulators by Eva H. G. Hupkes,Marc Quintyn,Michael Taylor Pdf

Policymakers are often reluctant to grant independence to the agencies that regulate and supervise the financial sector because of the fear that these agencies, with their wide-ranging responsibilities and powers, could become a law unto themselves. This pamphlet describes mechanisms for making regulatory agencies accountable not only to the government but also to the industry they supervise and the public at large, with examples from a range of countries.

Author : Justin O'Brien
Publisher : Unknown
Page : 81 pages
File Size : 41,5 Mb
Release : 2019-08-15
Category : Business & Economics
ISBN : 9781108748506

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Trust, Accountability and Purpose by Justin O'Brien Pdf

Explores how corporations can rebuild trust through organisational and regulatory design across interlocking themes.

Author : Michael Taylor
Publisher : Unknown
Page : 128 pages
File Size : 45,5 Mb
Release : 2006
Category : Electronic
ISBN : OCLC:1144354464

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Accountability Arrangements for Financial Sector Regulators by Michael Taylor Pdf

Author : Anonim
Publisher : Unknown
Page : 0 pages
File Size : 42,5 Mb
Release : 2005
Category : Electronic
ISBN : OCLC:848726516

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The Accountability of Financial Sector Supervisors by Anonim Pdf

Author : International Monetary Fund. Monetary and Capital Markets Department
Publisher : International Monetary Fund
Page : 27 pages
File Size : 46,7 Mb
Release : 2014-03-07
Category : Business & Economics
ISBN : 9781475573480

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Canada by International Monetary Fund. Monetary and Capital Markets Department Pdf

This paper evaluates Financial Sector Assessment Program (FSAP) intensity and effectiveness of Federal Bank supervision in Canada. The IMF report highlights that a key element of effective supervision is a willingness to increase supervisory pressure promptly when a supervisor identifies weaknesses in an institution. The IMF funding for Canadian banks is primarily through deposits and lending focuses on traditional bank products in Canada in the personal and commercial sectors. It also highlights that one of the key characteristics of Canada is a government housing policy that has contributed to a very safe and liquid residential mortgage finance system.

Author : Kenneth Kaoma Mwenda
Publisher : World Bank Publications
Page : 182 pages
File Size : 46,5 Mb
Release : 2006-01-01
Category : Business & Economics
ISBN : 9780821364604

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Legal Aspects of Financial Services Regulation and the Concept of a Unified Regulator by Kenneth Kaoma Mwenda Pdf

That different types of financial services and products continue to spring up in the financial sector of many countries is indicative of the changing landscape of the financial services industry globally. Equally important, as indicators of the evolving trajectory of financial services regulation, are increases in the number of countries where universal banking is practiced and in numbers of parent and subsidiary companies providing different types of financial services and products. This book is written against that background. A central thesis pursued in the book is that until there is a longer track record of experience with unified regulators, it is difficult to come to firm conclusions about the restructuring process of regulators, and the optimal internal structure of such agencies. In addition, the book examines the concept of an independent regulator, showing how this concept, as a corollary to the concept of a unified regulator, could strengthen the regulatory and institutional framework for financial services supervision if accountability were to be part of such a framework.