This book identifies the most likely sources of personal regulatory exposure for senior officers of financial institutions; and, in turn, considers how these risks can be effectively mitigated in practice. In doing so, the book addresses some of the key questions preoccupying senior managers and directors in today’s increasingly challenging regulatory environment, including:
What does the Regulator expect of me?
What is the scope of my regulatory responsibility?
What, if any, responsibility do I have for the firm’s culture?
To what extent can I be held accountable for the (in) actions of others?
In what respects/where am I most exposed, from a regulatory perspective?
What are the Regulator’s most likely avenues of challenge?
How do I satisfy my duty of responsibility?
How can I best protect myself and keep the Regulator at bay?
How can I reconcile my statutory fiduciary duties as a director with my regulatory responsibilities?
What assurances should I receive before signing an attestation?
How should it be framed?
How should I approach regulatory interviews?
This book follows on from (and effectively updates) Individual Accountability Under then Senior Managers Regime – A Practical Guide (David Berman, Thomson Reuters, 2016). It is intended as a one-stop practical guide for senior officers & financial services institutions, including those individuals designated as Senior Managers under the UK Senior Managers & Certification Regime (in both executive and non-executive capacities).