There is continued momentum emphasizing individual accountability and personal liability for senior managers.
Observations
Mar 19, 2024Australian Senator Andrew Bragg recently criticized the current regulatory framework for the financial sector in Australia. In particular, he pointed to failures in the country's twin peaks model of two independent regulators focused on market conduct and supervision, represented by the Australian Securities & Investments Commission (ASIC), and financial system stability, through the Australian Prudential Regulation Authority (APRA).
Observations
Feb 02, 2024Taiwan's Financial Supervisory Commission (FSC) recently announced plans to introduce a responsibility mapping system to the financial industry, as reported by RegulationAsia. This is a part of the FSC's efforts to cultivate a culture of integrity, establish a corporate governance regime based on responsibility, and improve accountability for senior executives in the banking sector.
