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