Speech by Mark Steward, Director of Enforcement and Market Oversight at the FCA, delivered at the New York University Program on Corporate Compliance and Enforcement


  • The Senior Managers and Certification Regime marks an important and decisive shift in the right direction in tackling conduct issues.
  • Corporate fiduciary duties of care and diligence imposed on company directors are probably the closest statutory precedent for senior management liability.
  • There is no free pass for firms and so the Senior Managers Regime does not mean there will be an end to action against firms, including heavy financial penalties.

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Categories: Governance

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