Getting Personal - Financial Regulators' Warn of a New Era of Individual Responsibility
By LAWRENCE D. KAPLAN & KIRBY BEHRE
A new theme is developing in financial services regulatory enforcement – assigning personal responsibility for ostensibly corporate acts. As a result, individual officers at financial services companies, in addition to the institutions themselves, are now in the regulators’ cross-hairs. Financial services companies and their officers need to be prepared for this new regualtory trend.