The FCA and PRA have updated their website to provide information relating to the new Senior Managers’ Regime (SMR) for the banking sector and the new Senior Insurance Managers’ Regime (SIMR) for the insurance sector. The PRA has published a new webpage on senior manager approvals and has updated its webpage on submitting, amending and withdrawing applications under the SMR and the equivalent webpage for applications made under the SIMR. The PRA has also published a document containing a list of the PRA-designated senior management functions under the SMR.

Both regimes came into force on 7 March 2016.

View FCA and PRA update their website to reflect entry into force of SMR and SIMR, 7 March 2016