The FCA and PRA have published new policy statements relating to regulatory references under the new accountability regimes for banks and insurers, which will come into force on 7 March 2017 (see FCA PS16/22 and PRA PS27/16).
Banks and insurers will have to comply with the new rules in the policy statements for all candidates being recruited to senior management functions, senior insurance management functions, FCA-controlled functions or significant harm functions from that date onwards.
The change will coincide with the implementation of the full certification regime and application of Conduct Rules to “other conduct staff”.
Please see our full briefing here for analysis of how this new regime will work in practice.
Key contacts
Samantha Brown
Managing Partner, Employment, Pensions and Incentives, UK and EMEA, London
Steve Bell
Managing Partner, Employment, Industrial Relations and Safety, Asia and Australia, Melbourne
Emma Rohsler
Partner, Head of Employment, Pensions and Incentives, EMEA, Paris
Tim Leaver
Partner, London
Andrew Taggart
Partner, London
Fatim Jumabhoy
Partner, Head of Employment & Workplace Investigations, Asia, Singapore
Barbara Roth
Partner, New York
Christine Young
Partner, London
Disclaimer
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