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Fine for former CIO at TSB breathes new life into senior manager conduct rules

Image showung waves of dat over City
Photo: Getty Imnges

Jennie Clarke

4 min read
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Regulator’s action may consider rethink on outsourcing as senior manager accountability moves centre stage.

On April 13, 2023, the UK PRA announced that it had fined Carlos Abarca, the CIO of TSB Bank in office for the period in which the bank had been fined almost £50m ($62.35m) for failing to conduct proper due diligence for operational risk in a significant data migration project.

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