News & Analysis as of

Personal Liability Senior Managers United Kingdom

BCLP

Caught in the crosshairs: How the PRA’s new Early Account Scheme impacts individuals

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The Prudential Regulation Authority (“PRA”) has kicked-off 2024 by crystallising its new approach to enforcement. The key change is the introduction of the Early Account Scheme (“EAS”), which provides a mechanism for the...more

Akin Gump Strauss Hauer & Feld LLP

In Principle: 10 Things Authorised Firms Need to Know for 2020

Welcome to the 2020 edition of In Principle. With the United Kingdom (UK) leaving the European Union (EU) on31 January 2020, and moving into a transition period which will last until 31 December 2020, Brexit of courselooms...more

Latham & Watkins LLP

Individual Accountability for PE Executives Continues to Increase Under Legal and Regulatory Changes

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Corporate accountability has been a key focus for UK legislators and regulators since the credit crisis, as authorities have taken action against corporate failings. In our view, this focus is evolving to emphasise individual...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

Dechert LLP

Personal Liability for Redundancy Breaches

Dechert LLP on

Collective redundancy consultation has recently become a lot more serious on a personal level for directors and senior managers. Three former directors of collapsed delivery company Citylink are being prosecuted in...more

McGuireWoods LLP

Making Bankers Accountable

McGuireWoods LLP on

The Financial Conduct Authority and the Prudential Regulatory Authority have recently been showing signs of gearing up for the new regime which is intended to have the effect of making senior bankers and other financial...more

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