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 consultation is available at: http://www.fca.org.uk/static/documents/consultation-papers/cp14-31.pdf.
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