General · 2 hours ago
140,000 finance managers to escape extra annual honesty checks
Diliff via Wikimedia Commons (CC BY-SA 3.0)
The Bank of England and the Financial Conduct Authority (FCA) propose that only chief executives and finance chiefs annually demonstrate their "fit and proper" status. Firms would also stop reporting minor slip-ups, reporting only serious misconduct, final warnings, and sackings. The measure is projected to yield approximately £2bn in savings for businesses across a decade, according to the regulators.
Reported by Guardian · How we write briefs