On 12 June 2014, the Chancellor announced that HM Treasury intends to conduct a consultation on the possible extension of the senior managers and certification regime to cover UK branches of all non-UK banks and investment firms that are prudentially regulated by the Prudential Regulation Authority ("PRA"). The primary provisions on the senior managers and certification regime are set out in The Financial Services (Banking Reform) Act 2013 and allow for the extension of the regime to non-UK banks and investment firms by HM Treasury. The FCA has announced that the FCA and PRA intend to jointly consult on detailed proposals for both UK firms and non-UK firms this year.
The Chancellor's speech which includes the announcement is available at:
https://www.gov.uk/government/speeches/mansion-house-2014-speech-by-the-chancellor-of-the-exchequer.
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