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New Accountability in Financial Services: Changing Individual Behaviour and Culture

New Accountability in Financial Services: Changing Individual Behaviour and Culture

Paperback

Series: Palgrave Socio-Legal Studies

Business GeneralCriminologyGeneral Law

ISBN10: 3030887170
ISBN13: 9783030887179
Publisher: Palgrave Macmillan
Published: Dec 19 2022
Pages: 222
Weight: 0.75
Height: 0.50 Width: 6.14 Depth: 9.21
Language: English

This book is a critical examination of recently introduced individual accountability regimes that apply to the financial services industry in the UK (SMCR) and Australia (BEAR and the forthcoming FAR), together with a forthcoming new individual accountability regime ( in particular, SEAR) in Ireland. It provides a framework for analysing whether these regimes will achieve behavioural change in the financial services industry. This book argues that, whilst sanctioning individuals to deter future misconduct is an important part of any successful regulatory strategy, the focus should be on ensuring that individuals in the financial services industry internalise the norms of behaviour expected under the new regimes. In this regard, the analysis in this book is informed by criminological theory, regulatory theory and behavioural science. The work also argues for a trajectory towards professionalisation of financial services, and banking in particular, as an important means of positively influencing industry-wide norms of behaviour, which have a key influence on firms' and individuals' behaviours.

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McGrath, Joe

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Criminology