News & Analysis as of

Financial Conduct Authority (FCA) Individual Accountability

A&O Shearman

UK bankers' remuneration reform: individual accountability

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The PRA and FCA have proposed new rules to integrate the UK’s remuneration regime and accountability regime under the SMCR more closely, including a requirement for firms to consider adjusting MRTs’ variable pay (using malus...more

White & Case LLP

2019 Half-year in review: M&A legal and market developments

White & Case LLP on

We set out in the attached Newsletter a number of interesting English court decisions and market developments which have taken place in the second half of 2019 and their impact on M&A transactions. This review looks at these...more

Mitratech Holdings, Inc

With Great Power Comes Great Responsibility – How to Deal With the Growth in Accountability and Responsibility Regulations

With potential large fines and prohibitions, managers will have ever-greater pressures upon them to ensure their teams meet required compliance standards and show that effective controls have been put in place to prevent...more

A&O Shearman

UK Regulators Consult Further on Extension of Individual Accountability Regime to All Financial Services Firms

A&O Shearman on

The UK Financial Conduct Authority and Prudential Regulation Authority have issued further consultations on aspects of the extension of the Senior Managers and Certification Regime to all firms authorized under the Financial...more

Hogan Lovells

Corporate Insurance Newsletter – December 2017

Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for December has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more

Dechert LLP

Every Little Helps with a DPA

Dechert LLP on

Lord Justice Leveson approved Tesco Store Limited’s (“Tesco”) Deferred Prosecution Agreement (“DPA”) on 10 April 2017, making them the fourth company since November 2015 to enter into a DPA with the UK’s1 Serious Fraud Office...more

King & Spalding

The Senior Managers Regime – should GCs be worried?

King & Spalding on

In March this year the PRA and the FCA introduced the Senior Managers Regime (‘SMR’) for individuals associated with banks and PRA regulated investment firms (from 2018 the SMR will apply to all UK authorised firms). The...more

Troutman Pepper Locke

“Taking no prisoners!” The Senior Insurance Manager Regime

Troutman Pepper Locke on

The 13th August 2015 was not just an unlucky number 13 but the date the Prudential Regulatory Authority (PRA) and the Financial Conduct Authority (FCA) chose to publish the long awaited rules on the Senior Insurers Manager...more

Morgan Lewis

UK Financial Institutions Strengthen Accountability

Morgan Lewis on

UK regulators extend the new regulatory framework that governs individual accountability to banking and insurance. The UK Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) published their...more

Morrison & Foerster LLP

Individual Liability: What’s Behind The Headlines?

It’s been open season on financial institutions since the 2008-2009 financial crisis (“Financial Crisis”). State and federal prosecutors and regulators are competing with each other for press coverage of their latest consent...more

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