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On December 19, 2014, the UK's PRA and FCA published a joint
consultation paper on strengthening accountability in banking. The
consultation focuses on the proposed new senior managers and
certification regimes and seeks views on how senior managers are to
be held accountable in their roles. The consultation paper sets out
proposals on transitional arrangements for implementing the
regimes, new forms supporting the regimes and consequential changes
to the FCA Handbook and PRA Rulebook. The consultation closes on
February 27, 2015.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
