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UK will enforce executive accountability in proportionate manner, Wheatley says

( July 14, 2015, 16:29 GMT | Official Statement) -- MLex Summary: Planned UK rules will make top financial executives responsibility for wrongdoing under their watch, but based “on the known facts at the time” rather than “hindsight,” said Martin Wheatley, chief executive of the Financial Conduct Authority. Enforcement of the accountability rules will be proportionate, without automatic fines in cases of misconduct by lower-level staff, he said.The following is the text of the prepared remarks, as published by the FCA....

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