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Financial Institutions United Kingdom Senior Managers

Skadden, Arps, Slate, Meagher & Flom LLP

Fintech Focus Podcast | Managing a Workforce in a Regulated Environment

This episode of “Fintech Focus” picks up where our last episode “Growing a Workforce in a Regulated Environment” left off. Part Two delves further into workplace considerations for fintechs, and focuses on how they can manage...more

Skadden, Arps, Slate, Meagher & Flom LLP

Fintech Focus Podcast | Growing a Workforce in a Regulated Environment

As growth-stage fintechs manage a rapidly increasing workforce, they are faced with onboarding senior-level hires within the scope of a complex regulatory environment in the U.K. On our latest “Fintech Focus” podcast, host...more

WilmerHale

The FCA Enforcement Club: Public Membership Soon to be Available...

WilmerHale on

“The first rule of enforcement club is that you do in fact talk about enforcement club”; so Therese Chambers, the UK Financial Conduct Authority’s (FCA) joint executive director of enforcement and market oversight, announced...more

Latham & Watkins LLP

Bank of England Unveils Changes to the PRA’s Approach to Enforcement

Latham & Watkins LLP on

Recent changes to the PRA’s approach to enforcement show an increased focus on expediting the investigative process and incentivising early admissions. On 30 January 2024, the Bank of England (the Bank) unveiled a number...more

Latham & Watkins LLP

Consumer Duty Update: FCA Issues Dear CEO/Director Letters Setting Priorities for Sectors

Latham & Watkins LLP on

The letters ask senior management to prioritise implementing the Duty. On 3 February 2023, the FCA published Dear CEO/Director letters underscoring the immediate (i.e., during the implementation period up until 31 July...more

Hogan Lovells

Consumer Duty: Moving into the next phase

Hogan Lovells on

Following the publication of the final rules, firms have been moving at pace to prepare implementation plans for boards to review, scrutinise and challenge, in order to achieve the 31st October deadline set by the Financial...more

Dechert LLP

FCA Publishes Proposed Rules to Extend Senior Manager & Certification Regime to All Financial Services Firms

Dechert LLP on

The UK’s Financial Conduct Authority (FCA) has published proposed rules to extend the senior manager & certification regime (SMCR) to all financial services firms....more

Akin Gump Strauss Hauer & Feld LLP

Financial Conduct Authority Consults on Senior Managers and Certification Regime

On 26 July 2017, the UK Financial Conduct Authority (FCA) published its much-anticipated Consultation Paper (CP 17/25) “Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms.” The...more

Cooley LLP

Blog: FCA fines Towergate & a former director for breaching its client money rules

Cooley LLP on

The FCA has fined Towergate Underwriting Group Limited £2,632,000; and Timothy Duncan Philip, a former director of, and the client money officer for, TUGL, £60,000. It has also prohibited Mr Philip from having any direct...more

Morgan Lewis

The Senior Managers and Certification Regime Takes Effect

Morgan Lewis on

The regime will monumentally affect banks, building societies, credit unions, and PRA-regulated investment firms. The much-trailed Senior Manager’s Regime (SMR) was brought into effect on Monday, 7 March by the enactment...more

Proskauer - Whistleblowing & Retaliation

New UK Regulations to Govern Whistleblowing in Financial Institutions

This month, the FCA and PRA announced a new regime for whistleblowing that will start to be phased in from March 2016. This is part of the broader desire on the part of the UK regulators to encourage individuals to raise...more

Skadden, Arps, Slate, Meagher & Flom LLP

"The UK Softens Its Approach to Senior Banker Regulatory Liability"

The aftermath of the financial crisis saw regulators worldwide tighten rules and launch large-scale enforcement investigations, particularly directed at the banking sector. The U.K., notwithstanding the importance to it of...more

Dechert LLP

New Senior Managers Regime Heading in the Direction of Banks, Insurers, Fund Managers, Investment Funds, Asset Managers and Other...

Dechert LLP on

Fuelled by political and public concern about trust, standards and culture in the banking industry, sweeping changes to the way the UK financial sector is regulated are gathering pace. The need to reshape corporate culture is...more

Morgan Lewis

UK Financial Institutions: Proposals for New Senior Managers and Certification Regimes

Morgan Lewis on

With a mandate from Parliament, the UK regulators are working on a new regime governing individuals in banks. The UK Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) published a joint...more

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