This book is a critical examination of recently introduced individual
accountability regimes that apply to the financial services industry in
the UK (SMCR) and Australia (BEAR and the forthcoming FAR), together
with a forthcoming new individual accountability regime ( in particular,
SEAR) in Ireland. It provides a framework for analysing whether these
regimes will achieve behavioural change in the financial services
industry. This book argues that, whilst sanctioning individuals to deter
future misconduct is an important part of any successful regulatory
strategy, the focus should be on ensuring that individuals in the
financial services industry internalise the norms of behaviour expected
under the new regimes. In this regard, the analysis in this book is
informed by criminological theory, regulatory theory and behavioural
science. The work also argues for a "trajectory towards
professionalisation" of financial services, and banking in particular,
as an important means of positively influencing industry-wide norms of
behaviour, which have a key influence on firms' and individuals'
behaviours.