Regulators are increasingly focussing on individual accountability of directors and managers as a way to prevent misconduct by financial institutions. Some jurisdictions such as Ireland have introduced specific regulatory regimes to enhance individual accountability. Directors and managers can face potentially serious consequences if there is a failure in their area of responsibility, including loss of employment or a fine. This encourages a culture of compliance but does it stifle innovation and risk-taking? This panel will consider the benefits and drawbacks of individual accountability laws and regulation.