No place to hide for bank bosses

摘要

Digital upgrades and more stringent regulations will make it harder for senior managers of financial firms to escape punishment in the event of future banking scandals, industry advisers said. Since Lehman Brothers filed for bankruptcy 10 years ago, policymakers have strived to make individuals more accountable if a bank breaches conduct rules. Often in the past, bosses shrugged off responsibility and said they had no knowledge of misdemeanours by junior staff. But now new information systems mean managers have a much better idea of trading positions and operations. At the same time, many regulators now require institutions to map out to supervisors how they are run and which individuals are responsible for all areas of risk.