Regulating the culture of banks in the United Kingdom: strengthening legal accountability or just better leadership?

James McCalman, Angus Young, Raymond Chan

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    Abstract

    The Senior Managers Regime came into effect in March 2016. It is expected to change the behaviours of senior bank managers and transform the culture of banks through individual accountability and sanctions for non-compliance. However, without due consideration to the leader-follower dynamics, it is difficult to see how law reforms could compel a cultural shift in banks beyond superficial compliance.
    Original languageEnglish
    Pages (from-to)261-268
    JournalJournal of International Banking Law & Regulation
    Volume32
    Issue number6
    Publication statusPublished - 16 May 2017

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