Lunchtime Links: It’s still incredibly easy to make it into a UK risk-taking position

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Are most financial services professionals in the City actually squeaky clean? If the proportion of people sailing through the regulatory approval process for ‘approved persons’ – namely those working in a risk-taking position – is to be believed, the answer is yes.

Despite all the banking scandals hitting the sector over the past 18 months, just 30 people out of a possible 227,000 have been blocked from taking up a new role over the past six years, according to Reuters.

Regulators have supposedly got tougher on people taking up these positions since 2008, more closely scrutinising both their ability to do the job and any sort of shady history. At the time, banks said that this would impede recruitment, but the effect has been rather negligible.


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