Blogger Archives: Francis Kean

Francis Kean

Francis is an Executive Director in Willis Towers Watson's FINEX Global, where he specializes in insurance for Directors & Officers (D&O) of companies. He joined Willis in 2010 and has 25 years of experience as a leading litigation lawyer specializing in professional indemnity, financial institutions and directors and officers liability in the London insurance market.

Tackling tax evasion: It’s not the “what” but the “who” that’s worrying directors

The Criminal Finances Act received Royal Assent on April 27 and is expected to come into force sometime in 2018. It’s already a crime to evade tax and assist taxpayer intent on evasion. So what’s the big deal and why … Continue reading →

A House of Commons Select Committee spells trouble for company directors, and joy for the plaintiffs’ bar

A little while ago, I blogged about the Financial Reporting Council’s (“FRC”) proposal that it be given the power to impose sanctions on all listed company directors who preside over serious accounting irregularities. Now it seems these proposals not only … Continue reading →

Directors’ liability – Entering uncharted territory

Directors and Officers liability insurance is often the final safety net for senior executives who find themselves directly involved in an underlying loss event or caught up in consequent shareholder litigation. An unprecedented focus by legislators and regulators on personal … Continue reading →

Financial Conduct Authority: Imbalanced accountability

Financial Conduct Authority (FCA) fines total more than £3 billion in the five years up to April 2016 – with only a minuscule proportion levied on individuals. But the accountability imbalance is set to change. Mark Steward, Director of Enforcement … Continue reading →

Supreme Court victory for U.K. Financial Conduct Authority spells trouble for senior managers

The recent U.K. Supreme Court decision in Financial Conduct Authority V Macris has clarified the law—but not in a way that will give comfort to senior managers. Continue reading →

A new regulatory threat for directors of U.K.-listed companies

You are a director of a U.K.-listed company but not its Chief Financial Officer. A significant error is discovered in the financial statements going back several years, as a result of which the accounts have had to be restated. If … Continue reading →

The English Court of Appeal holds a senior manager strictly to account for negligence

As a senior manager, can you be summarily dismissed under English law for gross misconduct not as a result of deliberate or dishonest conduct but instead due to a negligent failure to act, even when this has caused your employer … Continue reading →

Hong Kong to introduce new “Senior Managers Regime”

There was speculation, following the introduction of the Senior Managers Regime (SMR) in the U.K., that other regulators would follow suit and introduce similar regimes in their countries. It looks as if Hong Kong will now be the first to … Continue reading →

Destruction of computer records leads to prison sentence for director

It may cross your mind to throw your computer out of the back window as the Serious Fraud Office comes knocking on the front door but, as a case decided just before Christmas 2016 shows, it is probably a terrible … Continue reading →

Making U.K. directors personally liable for data privacy breaches

One proposal for the U.K.’s new Digital Economy Bill is for company directors to become personally liable for fines resulting from nuisance calls made by their companies. Continue reading →