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  • © 2022

New Accountability in Financial Services

Changing Individual Behaviour and Culture

Palgrave Macmillan
  • Incorporates insiders’ accounts of enforcing financial services regulation and scholarly analysis

  • Examines individual accountability frameworks in multiple jurisdictions

  • Locates frameworks in the broader sociological and regulatory contexts arising from the Global Financial Crash

Part of the book series: Palgrave Socio-Legal Studies (PSLS)

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eBook USD 89.00
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  • ISBN: 978-3-030-88715-5
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Table of contents (7 chapters)

  1. Front Matter

    Pages i-xiii
  2. The New Individual Accountability Regimes (IARs)

    • Joe McGrath, Ciaran Walker
    Pages 127-170
  3. New Accountability in Financial Services: Concluding Thoughts

    • Joe McGrath, Ciaran Walker
    Pages 213-216
  4. Back Matter

    Pages 217-222

About this book

This book is a critical examination of recently introduced individual accountability regimes that apply to the financial services industry in the UK (SMCR) and Australia (BEAR and the forthcoming FAR), together with a forthcoming new individual accountability regime (in particular, SEAR) in Ireland. It provides a framework for analysing whether these regimes will achieve behavioural change in the financial services industry. This book argues that, whilst sanctioning individuals to deter future misconduct is an important part of any successful regulatory strategy, the focus should be on ensuring that individuals in the financial services industry internalise the norms of behaviour expected under the new regimes. In this regard, the analysis in this book is informed by criminological theory, regulatory theory and behavioural science. The work also argues for a “trajectory towards professionalisation” of financial services, and banking in particular, as an important means of positively influencing industry-wide norms of behaviour, which have a key influence on firms’ and individuals’ behaviours.

Joe McGrath is Irish Research Council Scholar, a Fulbright Scholar, an Assistant Professor at the Sutherland School of Law, and the Vice Principal for Equality, Diversity and Inclusion of the College of Social Sciences and Law, University College Dublin, Ireland. He has published in the leading international, peer-reviewed journals in his fields.

Ciaran Walker is Consultant in the Financial Services Regulation & Governance group at the Dublin office of the global law firm Eversheds Sutherland, Ireland. He also lectures and has published in leading international journals in his fields. Prior to joining Eversheds Sutherland, he was Deputy Head of Enforcement at the Central Bank of Ireland.

Keywords

  • financial crime
  • white-collar crime
  • crime prevention
  • accountability regime
  • regulating banks
  • law and business
  • banking law
  • corporate governance
  • financial crash
  • compliance behavior
  • accountability framework
  • financial misconduct
  • ethics in financial services
  • criminal law

Authors and Affiliations

  • Sutherland School of Law, University College Dublin, Dublin, Ireland

    Joe McGrath

  • Eversheds Sutherland, Dublin, Ireland

    Ciaran Walker

About the authors

Joe McGrath is Irish Research Council Scholar, a Fulbright Scholar, an Assistant Professor at the Sutherland School of Law, and the Vice Principal for Equality, Diversity and Inclusion of the College of Social Sciences and Law, University College Dublin, Ireland. He has published in the leading international, peer-reviewed journals in his fields.

Ciaran Walker is Consultant in the Financial Services Regulation & Governance group at the Dublin office of the global law firm Eversheds Sutherland, Ireland. He also lectures and has published in leading international journals in his fields. Prior to joining Eversheds Sutherland, he was Deputy Head of Enforcement at the Central Bank of Ireland.

Bibliographic Information

Buying options

eBook USD 89.00
Price excludes VAT (USA)
  • ISBN: 978-3-030-88715-5
  • Instant PDF download
  • Readable on all devices
  • Own it forever
  • Exclusive offer for individuals only
  • Tax calculation will be finalised during checkout
Hardcover Book USD 119.99
Price excludes VAT (USA)