Tag: Senior Managers

PRA publishes Policy Statement on moving Senior Managers Regime forms from the PRA Rulebook

On 9 May 2023, the Prudential Regulation Authority (PRA) published Policy Statement PS4/23: Moving Senior Managers Regime forms from the PRA Rulebook. PS4/23 provides feedback to responses to Consultation Paper CP2/23 and contains the PRA’s final policy on its proposed changes to the Senior Managers Regime (SMR) forms. Previous consultation In CP2/23, the PRA proposed … Continue Reading

FCA and PRA publish joint Discussion Paper on the review of the SMCR

On 30 March 2023, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) jointly published Discussion Paper 1/23: Review of the Senior Managers and Certification Regime (DP23/3). DP23/3 follows the Government’s announcement in December 2022, as part of the Edinburgh Reforms, that HM Treasury, the FCA and the PRA would commence separate reviews … Continue Reading

HM Treasury publishes SMCR Call for Evidence

On 30 March 2023, HM Treasury published a Call for Evidence (CfE) on the Senior Managers and Certification Regime (SMCR). The CfE follows the Government’s announcement in December 2022, as part of the Edinburgh Reforms, that HM Treasury, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) would commence separate reviews of the … Continue Reading

Edinburgh Reforms – SMCR

As part of the Edinburgh Reforms the Chancellor of the Exchequer issued a Ministerial Statement which announced that the Government would launch a review of the Senior Managers and Certification Regime (SMCR) in Q1 2023. The SMCR was introduced by The Financial Services (Banking Reform) Act 2013 (which amended the Financial Services and Markets Act … Continue Reading
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