Dubai's financial district regulator is expected to "shortly" make an announcement around creating a senior managers regime that would hold bank executives personally accountable for their institution's failures, a senior official said Sunday. The Dubai Financial Services Authority is discussing the senior management regime in response to what it sees as an international trend and because the majority of the firms it supervises are global banks, Sara Bin Kalban, a senior manager in the supervision section, told ACAMS moneylaundering.com following remarks at ACAMS 6th Annual AML and Financial Crime Conference in Dubai. The United Kingdom adopted a Senior Managers and...
British regulators finalized rules Tuesday to penalize top managers of financial firms for compliance failures and proposed extending the same measures to the corporate traders of wholesale investment products.
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