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Part of Bank of England and Financial Services Bill [HL] – in the House of Lords at 6:30 pm on 15th December 2015.

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Photo of Lord Turnbull Lord Turnbull Crossbench 6:30 pm, 15th December 2015

That is not exclusive. Elsewhere, there is still a duty of responsibility. There is still personal culpability where it can be proved, but there are many people to whom it does not apply—senior people—and, there, you will need to have recourse to the duty of responsibility to secure a “conviction”—that is, proof of regulatory breach.