Europe: Risky business

Author: | Published: 9 Dec 2014
Regulators must give up on turning back the clock
The UK Prudential Regulation Authority's (PRA) proposals for the senior manager regime have drawn criticism from the City over the past month.

According to the PRA, the proposals are intended to create a new framework to encourage individuals to take greater responsibility for their actions, and will make it easier for both firms and regulators to hold individuals to account.

The new regime creates lines of responsibility leading up to a senior individual who is...