July 2017: UK: PRA and FCA publish proposals on SM&CR extension to all firms

The UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) yesterday published proposals  on the extension of the Senior Managers and Certification Regime (SM&CR). The PRA proposals relate only to insurers. The FCA proposals apply to almost all regulated firms, with specific proposals for insurers.

The PRA and FCA have asked for comments by 3 November 2017 and intend to publish a summary of responses and final rules / policy statements in 2018.

If you have any questions about this, or any other financial services update, please do let us know.

Janet and Matthew

Janet Cooper   Matthew Hunter

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