Andrew Bailey , the chief executive of the securities Conduct Authority ( FCA ) , says that the FCA is making senior management responsible for their firms ’ culture . He believes that changes in banking culture will take time to reflect the implementation of the senior management and certification regime and insurers scheme introduced by the FCA over six years ago . He reports that the FCA has generally seen steps being taken , though he accepts that there is still work to be done . The regime will extend to cover all financial services companies , including asset managers and hedge funds , in 2018 .
Andrew Bailey, the chief executive of the Financial Conduct Authority (FCA), says that the FCA is making senior management responsible for their firms’ culture. He explains that changes in banking culture will take time to reflect the implementation of the senior managers and certification regime and insurers scheme introduced by the FCA over six months ago. He reports that the FCA has generally seen responsibility being taken, though he accepts that there is still work to be done. The regime will extend to cover all financial services companies, including asset managers and hedge funds, in 2018.