REGULATORY ACCOUNTABILITY

Academics at University College London have opposed the Law Society's stance on excluding heads of legal from the Financial Conduct Authority's (FCA) new framework for individual accountability in the finance sector. Professor Richard Moorhead argued that senior in-house counsel historically had pivotal roles to play in corporate wrongdoing and should be held accountable. However, critics of the FCA's original proposals to include heads of legal argue that it is an unnecessary duplication of the role of legal regulators. The academics maintain that dual regulation would not be 'unduly burdensome'. 18 April 2019

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