HSBC boss welcomes news rules to improve banker accountability

HSBC Canary Wharf

New rules being rolled out to make bankers more accountable were "entirely reasonable" given the pain Britain suffered in the financial crisis, HSBC Chairman Douglas Flint said on Tuesday.

Reuters reports that the new 'senior managers' regime' will make top bankers directly accountable for rule breaches on their patch from 2016, but it has been criticised by some bankers and financial lawyers for going too far and hard to apply in practice.

The rules reverse the 'burden of proof', meaning that bankers will have to demonstrate they took reasonable steps to stop rule-breaking otherwise they would be presumed to be responsible for the breaches.

To access the complete Reuters article hit the link below:

HSBC chairman says new banker accountability rules are reasonable

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