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Holding bankers to accountA decade of market manipulation, regulatory failures and regulatory reforms$
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Oonagh McDonald CBE

Print publication date: 2019

Print ISBN-13: 9781526119438

Published to Manchester Scholarship Online: September 2019

DOI: 10.7228/manchester/9781526119438.001.0001

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Holding senior bankers to account

Holding senior bankers to account

(p.238) Chapter 10 Holding senior bankers to account
Holding bankers to account

Oonagh McDonald

Manchester University Press

This concluding chapter addresses the question of why so few senior bankers have borne the consequences of market manipulation carried out by their subordinates. It argues that the huge fines imposed on banks have failed both in terms of justice and in terms of bringing about changes in culture and behaviour. Tracing the changes in the senior-management regime from the 1990s to the present, it weighs up the possible means of ensuring that senior figures are held responsible in the future.

Keywords:   Senior bankers, Senior management regime, Statement of responsibility, Rebuttable presumption of responsibility

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