> When are regulators and enforcers going to wise up to this "clever" game of disguising malicious behavior as negligence? Thankfully in finance many of them a

> When are regulators and enforcers going to wise up to this "clever" game of disguising malicious behavior as negligence? Thankfully in finance many of them already have. In the UK there a number of “Prescribed Responsibility” roles which financial organisations are required to fill with a single individual. That individual is required to be competent, knowledgeable and aware of any company actions that fall within their area of responsibility. It’s a criminal offence for them to fail on any of those three points, and also criminal for a financial organisation to appoint someone who couldn’t reasonably be expected to meet those three points. The organisation is also required to make sure those roles are only held by senior executives with real decision making power. As a consequence there is no space for wilful ignorance, or enacting policies to try and distribute decision making. Attempting those, and then having your company later found to be breaking the law, would result in personal criminal liability for the executive involved.