Neither https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/discussion-paper/2018/dp118.pdf?la=en&hash=4238F3B14D839EBE6BEFBD6B5E5634FB95197

Neither https://www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/discussion-paper/2018/dp118.pdf?la=en&hash=4238F3B14D839EBE6BEFBD6B5E5634FB95197D8A https://www.bankofengland.co.uk/-/media/boe/files/prudential... nor https://www.fca.org.uk/publication/consultation/cp19-32.pdf https://www.fca.org.uk/publication/consultation/cp19-32.pdf seem to contain phrases that actually say what's quoted in the article. The closest I can see is that these documents suggest that senior management is supposed to be aware of what they are responsible and accountable for. Putting blame on the other end of the chain would be counterproductive anyway. There's pretty much no way the root cause of such a large scale failure would be in some minor technical role.