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The United Kingdom on Thursday reversed course on a plan that would have required bank executives to prove their innocence in compliance violations, and separately proposed tightening oversight of senior managers. Under proposed revisions to the U.K.'s Senior Managers and Certification Regime (SMCR), bank regulators would need to show that designated executives and other managers have not sufficiently acted to prevent identified financial misconduct ahead of fining or otherwise penalizing them. The plan supersedes the so-called "reverse burden of proof" outlined by the Financial Conduct Authority last March, which would have tasked chief executives, chairpersons, top anti-money laundering compliance officers...