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On 9 July 2014, an Order was made and published which will bring
into effect, on 25 July 2014, certain provisions of the Financial
Services (Banking Reform) Act 2013 relating to the conduct of
persons working in the financial services sector. The Order paves
the way for the PRA and FCA to consult on rules and statements of
policy on the regulation of senior management, the certification of
certain employees of financial institutions, the applicability of
rules of conduct to all employees of financial institutions and the
extension of the limitation period for imposing sanctions. The
regulators are expected to consult on these issues before the end
of 2014.
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