Jonathan Davidson, Director of Supervision at the FCA gave a speech back in September 2017, about the extension of the Accountability regime. In it he made several interesting points, firstly that “the Accountability Regime is directly targeted at the culture of the Firm.” He went on to say. . .
“We cannot continuously and closely supervise outcomes in every one of these (56,000) firms. Our ambition is to be forward-looking and pre-emptive by addressing root causes… We see two. First, the strategy and business models of firms and second, the culture of firms. And the two are closely interlinked.”
Having individuals within firms being held personally accountable for their work has been shown to affect outcomes positively in a number of sectors.
By Carl Redfern from Redland Business Solutions
By Redlandadmin from Redland Business Solutions
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