Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: Senior Managers Regime

FCA Consults on Transitioning Firms and Individuals to SM&CR

Posted in Financial Markets, UK Developments
On December 13, the UK Financial Conduct Authority (FCA) published three consultation papers (CPs) on the transition from its existing Approved Persons Regime (APR) to the new Senior Managers and Certification Regime (SM&CR). The CPs follow the FCA’s July 2017 consultation papers, which consulted on extending the SM&CR regime to all regulated firms (including both… Continue Reading

FCA Opens Consultation on Expectations of Firms in Unregulated Markets and Industry Codes of Conduct

Posted in Financial Markets, UK Developments
On November 3, the UK Financial Conduct Authority (FCA) published a consultation paper (CP17/37) on supervising adherence to proper standards of market conduct for unregulated markets and activities, including standards set out in industry-written codes of conduct.… Continue Reading

FCA Publishes Final Report on Asset Management Market Study

Posted in Financial Markets, UK Developments
On June 28, the Financial Conduct Authority (FCA) published its final report after its asset management market study (Study), which began in November 2015. Alongside the report, the first of a number of related consultation papers was also published. The report and consultation paper follow the FCA’s interim report published in November 2016, which had… Continue Reading

FCA Clarifies Senior Managers Regime Expectations for Individuals With Overall Responsibility for a Firm’s Legal Function

Posted in UK Developments
On January 27, the Financial Conduct Authority (FCA) announced plans to consult on the application of the Senior Managers Regime (Regime) to individuals with overall responsibility for a firm’s legal function. The FCA acknowledged uncertainties in the market regarding whether individuals with overall responsibility for a firm’s legal function would require approval under the Regime.… Continue Reading