Junior Bankers Risk Being Fired by Wary Bosses, Lawyers Warn
- U.K. rules seen triggering wave of unfair-dismissal lawsuits
- From March 2016, U.K. managers will be accountable for juniors
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Lower-ranking bankers could be the unintended victims of new U.K. rules that make bosses responsible for regulatory lapses caused by their junior colleagues, a London firm of employment lawyers warned.
British regulations intended to improve internal oversight at banks may trigger a new wave of unfair-dismissal claims as managers attempting to protect themselves preemptively dismiss staff who could put the company at risk, said Jon Gilligan, a partner at GQ Employment Law.