Category Archives: Directors & Officers

HBOS: Why the Regulators Will Make Sure Things Go Differently Next Time

2bank Kean

Much has been written in the last week about the long-awaited report into the reasons behind the collapse of Halifax Bank of Scotland (HBOS). This is hardly surprising given the size of the collapse and the report’s hard hitting conclusions, … Continue reading →

The Email has Gone. But Who’s it Gone to?


We all know (or think we know) about the dangers of hitting the send button on emails, but now there’s a new threat. Continue reading →

Personal Accountability: A Checklist for Worried Directors

Personal Accountability Checklist_645x400

I blogged recently on the recent Treasury announcement (still subject to Parliamentary approval) about the abolition of the presumption of responsibility under the senior managers regime (SMR), due to be introduced in the UK in March 2016. In the same … Continue reading →

Scariest Risks of 2015

Scariest Risks of 2015

As Halloween approaches and darkness falls earlier every day, we at WillisWire find ourselves reflecting not on make-believe monsters but on the frightening real risks our clients faced during the year. Thirteen of our bloggers submitted what they thought were … Continue reading →

U-Turn on Presumption of Guilt for UK Senior Managers


The UK Treasury today announced a major revision of one of the most controversial provisions in the Senior Managers Regime due to take effect on British and foreign banks operating in the United Kingdom from March 2016. Continue reading →

Whistleblowers: You Know they Make Sense if You’re a Regulator!


The FCA published last week new rules on whistleblowing. The key requirements of the new rules are to: appoint a senior manager as their whistleblowers’ champion put in place internal whistleblowing arrangements able to handle all types of disclosure from … Continue reading →

Directors’ Liability Regime Changes – In Force Today!


Over a year ago I blogged about significant proposed changes to the Directors Disqualification Regime and to the rules relating to assignment of rights of action against directors of insolvent companies.  I wrote: It is perhaps unlikely in the current … Continue reading →

Does the Attorney General’s Memo Mean the End of the Open Kimono Approach to Prosecutors?

DOJ: individual accountability for corporate wrongdoing

The theme to which I find myself returning more often than any other at the moment is that of individual accountability for corporate wrongdoing. Just when I am thinking I should be giving it a rest, my attention is wrenched … Continue reading →

Is it Still a Good Idea to Agree to Act as a Nominee Director?

director nominee

There have been a number of cases in which the courts have examined and reaffirmed the nature of a director’s duty to exercise independent judgment. Particular problems can arise, though, when directors are appointed as nominees of a particular shareholder … Continue reading →

The Chief Risk Officer: When a Triangle Becomes a Square

4 executives

The traditional shape for the apex of a pyramid is a triangle, right? Translate that into an organogram for any large organisation and you can be sure that the three corners will be occupied respectively by the Chief Executive, the … Continue reading →