Industry response

Strengthening accountability in banking - FCA DP 16/4

BSA response to FCA DP 16/4: Legal function
This paper responds to FCA Discussion Paper 16/4 (the DP). The BSA appreciates the fair and open way in which the FCA has discussed the competing arguments behind the possibility of specifically allocating overall responsibility for the management of the legal function to a senior manager.

For the reasons discussed in our response below, we do not support that course of action and take the view that the FCA should maintain the current arrangements.

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