Chief exec Martin Wheatley underlined the FCA's planned Senior Managers Regime
Financial Conduct Authority has outlined the thinking behind
next year's proposed Senior Managers Regime and urged City
firms and managers to embrace the reform that forces
individuals to be more accountable for conduct on their
executive Martin Wheatley said the SMR, which will take effect
one year from now, is important because there is an acceptance
that professional accountability is a priority because it makes
Speaking at a
conference in London, Wheatley said: "What you’ll
have, effectively, is each firm building a 'responsibilities
map’ – a detailed organogram, if you like
– that sets out its allocation of responsibilities
across individuals, governance arrangements, reporting lines
and so on and so forth."
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