The Financial Conduct Authority (FCA) is likely to apply more scrutiny to companies' boards prior to implementing its new senior person's regime, a consultancy has suggested.
The Consulting Consortium head of policy Rebecca Prestage (pictured) suggested that actions reminiscent of the Financial Services Authority's clamp-down on Prudential chief executive Tidjane Thiam earlier this year would inform the future approach of the Financial Conduct Authority (FCA) in dealing with senior persons. She said: "[The regulator] doesn't want a situation where a board has a different ethos to a firm. They want the ethos to trickle down the firm and will make senior people more accountable for their actions." She suggested that the regulator would perform more public ce...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes