UK: REG . READY . 2016 - To Do List
Last Updated: 21 April 2016

At our REG . READY . 2016 seminar, Nick Elwell-Sutton concluded the session by setting out an action list for firms subject to the new Senior Insurance Managers Regime (SIMR).

Already actioned  

  1. Governance map prepared
  2. SIMFs, SIFs and KHFs identified and either
    • Grandfathering forms submitted or
    • New applications made (including new Scope of Responsibilities forms)
  3. Prescribed responsibilities allocated 
  4. Whistleblowing Champion appointed

To action as soon as possible if not already done

  1. Employment contracts reviewed and side letters/amendments sent to relevant employees
  2. Policies reviewed and amended
  3. Template Settlement Agreements amended
  4. Training programme in place

To action by 7 September 2016

  1. Prepare Scope of Responsibility forms for grandfathered SIMFs and SIFs
  2. Notify the PRA of KFHs new to post from 1 Jan 2016 unless SIMF or SIF
  3. Update whistleblowing policies and train staff

Listen to our REG . READY . 2016 podcasts discussing our articles series here.

View our Whistleblowing routemap here.

If you have any questions about the REG . READY . 2016 - to do list you can contact Nick Elwell-Sutton or your usual Clyde & Co contact.

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