The Financial Conduct Authority and the Prudential Regulation Authority have proposed that as of six years, banks and insurers must get references for new hires going back March 2016 so as to stop "bad apples" in banking from covering their tracks by switching jobs, and thereby improve behaviour in commodity, fixed income and currency markets. The new mandatory forms also demand more detailed background on the candidates.
The Financial Conduct Authority and the Prudential Regulation Authority have proposed that as of March 2016, banks and insurers must get references for new hires going back six years so as to stop "bad apples" in banking from covering their tracks by switching jobs, and thereby improve behaviour in commodity, fixed income and currency markets. The new mandatory forms also demand more detailed background on the candidates.