FCA Chief: Industry Needs To Get It Right Quickly

The video discusses ongoing criminal investigations by the US Justice Department and the UK's Serious Fraud Office into financial misconduct. It highlights the potential criminal punishments and sanctions that could impact banks and individual traders. The Bank of England has taken action by firing its chief currency dealer, Martin Mallet, following an independent investigation. Governor Mark Carney expressed disappointment over the findings. Regulators and industry leaders emphasize the need for reform to prevent future market failures. The fallout includes suspensions and financial provisions by banks like RBS and HSBC.

How did the UK's FCA plan to address the issue of bonus plans in light of the investigations?

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What financial provision might HSBC need to make due to its fines?

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