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Gary Cohn

As Assistant to the President for Economic Policy and Director of the National Economic Council (2017-2018), Gary Cohn managed the US economic policy agenda, stimulating economic expansion, job creation, and wage increases through historic tax and regulatory reform. Prior to that he was the President and Chief Operating Officer at Goldman Sachs where he worked for more than 25 years.

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Klaas Knot

Klaas Knot is President of De Nederlandsche Bank and is the Chair of the Financial Stability Board. He is also a member of the Governing Council and the General Council of the European Central Bank, member of the European Systemic Risk Board, member of the International Monetary Fund's Board of Governors and a member of the Board of Directors of the Bank for International Settlements.

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2018 UPDATE | United Kingdom

2018 UPDATE | United Kingdom

by Starling Insights

Starling Insights Editorial Board

Apr 11, 2018

Compendium

UK UK FCA Personal Liability & Accountability The Era of Accountability Senior Managers Regimes Compensation & Incentives Culture & Conduct Supervision

The UK has been at the forefront of regulatory efforts to address culture at banks. Both the Bank of England (BOE) and the Financial Conduct Authority (FCA) have emphasized culture and conduct issues as a top priority in their supervisory oversight.

In 2013, the UK split its previous financial services regulator, the Financial Services Authority, into two separate entities. The Prudential Regulation Authority (PRA), which is part of the Bank of England, is responsible for the prudential regulation of about 1,700 banks, credit unions, insurers, and major investment firms. Its chief executive is the Deputy Governor of the Bank of England, currently Sam Woods.

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