2016: Tracey McDermott, the then acting CEO of the FCA:- “I’m not saying in 2001 I would have seen a failure. But one of the roles of a regulator is to have the confidence to ask what you think might be stupid questions. This is a big task for a 25-year-old faced with masters of the universe…. Read more »
The recent decisions by the FCA to fine UBS and Goldman Sachs £27.6 million and £34.3 million for transaction reporting failures going back to November 2007 and HBOS for its failure to inform the regulator of its suspicions that fraud was occurring in its Impaired Assets team – again in 2007 – is a reminder that the failings… Read more »
The recent decision of the Solicitors’ Regulatory Authority to strike off Emily Scott, a junior solicitor, for being involved in misconduct while a trainee, only belatedly raising her concerns as a whistleblower after she left, raises, albeit tangentially, the difficult question of when – or if – it is ever right to discipline an employee for… Read more »