On 4 February 2016, the FCA set out further final rules on the new Senior Managers Regime   (PS16/3: Strengthening Accountability in Banking – Feedback on CP15/22 (July 2015) and CP15/31 (October 2015); rules on extending the certification regime to wholesale market activities and interim rules on referencing). http://bit.ly/1KZdCGd The publication follows the final rules, […]

The FCA has highlighted that there is uncertainty about whether individuals in charge of legal functions within firms are subject to approval under the Senior Managers Regime. The FCA has stated that it intends to consult and that “firms that have sought to make decisions in good faith about whether or not approval is needed, on the […]