Traders, managers to face British watchdog tests
LONDON: Up to 2,000 traders and managers could face extra checks and interviews by Britain's financial watchdog to assess if they are fit for their jobs following the financial crisis, a daily said Monday.
Traders, bankers and managers with significant influence in their companies are set to face the tests, the Financial Times reported.
They include senior professionals at the largest 40-50 banks, insurers and other institutions supervised by the Financial Services Authority (FSA), the FT said, citing unnamed sources.
The FSA will announce as early as Monday that institutions will have up to six months to identify senior officials who carry out roles that might expose their company to significant risk, or who exert significant influence.
The watchdog will then examine their experience and record and could ask to interview them to ensure they are fit for the role, the newspaper said.