Senior management face new responsibilities

Several recent cases have served as strong reminders of the FSA’s tough approach to senior management responsibilities. Enforcement action is likely to continue and management will have to take the new rules seriously if they are to avoid personal and corporate damage to reputations and financial penalties. In this article, James Bateson and Christopher Newby, of Norton Rose’s corporate and regulatory insurance group, discuss the full set of senior management obligations and provide an invaluable guide to avoiding some of the pitfalls.