International Financial Law Prof Blog

Editor: William Byrnes
Texas A&M University
School of Law

Sunday, August 9, 2015

Financial Sector Executives as Targets for Money Laundering Liability

Financial Sector Executives as Targets for Money Laundering Liability  

JEFFREY R. BOLES, Temple University - Department of Legal Studies in Business

This article explores the merits of government initiatives that assign personal liability for money SSRNlaundering violations committed by institutions in the financial sector. In it I argue that the current set of personal liability initiatives proposed in Congress and endorsed by federal agencies contain problematic features that conflict with corporate governance principles, raise troubling ethical issues, and could bring harmful effects to the financial services sector with reverberations beyond the industry. I suggest an alternate approach for bringing personal liability to the industry that avoids these challenges.

https://lawprofessors.typepad.com/intfinlaw/2015/08/financial-sector-executives-as-targets-for-money-laundering-liability.html

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