WebSep 30, 2024 · Further efforts to stop the ‘rolling of bad apples’, referring to employees with a record of misconduct who move from one firm to another, are expected to come into …
Phenomenon - PCPD
WebMay 6, 2024 · It is intended that that the MRC Scheme will address the “rolling bad apples” phenomenon and will be an industry‑led initiative endorsed by the HKMA (as opposed to a supervisory requirement). The MRC Scheme will be implemented in two separate phases. Phase 1 will require AIs to obtain references from current and former employers of ... WebMay 8, 2024 · The review culminated in a final report published in June 2015 that labels individuals with poor conduct records as – you guessed it – rolling bad apples. The authorities recognised that it was important for firms to have access to relevant information about these people’s prior conduct record from past employers. imo and governance
Mandatory Reference Schemes: Curbing the "Rolling of Bad Apples …
WebJul 18, 2024 · Stemming the rolling bad apples phenomenon . While a number of regulators globally have been focused for some time on bank culture and individual responsibility, comparatively less attention has been paid to addressing the issue of “rolling bad apples” until now. With the release of the FSB’s Toolkit (a resource for both regulators and ... WebApr 15, 2024 · Last year saw the introduction of a requirement to disclose to the SFC any internal investigations conducted within six months of a licensed representative’s departure, which was designed to give the SFC the opportunity to detect “rolling bad apples”. There have been four suspensions and three bans of individuals since the beginning of this year. WebSep 30, 2024 · Further efforts to stop the ‘rolling of bad apples’, referring to employees with a record of misconduct who move from one firm to another, are expected to come into place through mandatory reference checks for individuals employed by financial institutions. list of world problems