Financial services and banking: employment issues

Financial services and banking: employment issues guidance:

This Resource Note outlines the main provisions of Schedule A of the 2016 UK Corporate Governance Code (UKCG Code), on 'The Design of Performance-Related Remuneration for...

Practice Note

This Resource Note outlines the main provisions of Section B of the UK Corporate Governance Code (UKCG Code), on 'Effectiveness', and highlights relevant third party...

Practice Note

This Resource Note outlines the main provisions of Section C of the 2016 UK Corporate Governance Code (UKCG Code), on 'Accountability', and highlights relevant third...

Practice Note

This Resource Note outlines the main provisions of Section D of the 2016 UK Corporate Governance Code (UKCG Code), on 'Remuneration', and highlights relevant third party...

Practice Note

BREXIT: The UK is due to leave the EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. For further guidance...

Practice Note

STOP PRESS: The Senior Managers and Certification Regime (SM&CR) was extended to insurers regulated by the FCA and PRA from 10 December 2018, replacing the Senior...

Practice Note

Produced in partnership with Sam Whitaker of Shearman & Sterling LLP 1 If, at any time in the [three] years following the payment of a bonus to you, the [Board OR...

Precedents

As of exit day (31 January 2020) the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has entered an implementation...

Practice Note

Overview of Directory Persons As a consequence of the extension of the Senior Managers & Certification Regime (SM&CR) to solo-regulated firms in December 2019, the...

Practice Note

FCA and PRA rules on whistleblowing On 6 October 2015, the Financial Conduct Authority (FCA), alongside the Prudential Regulation Authority (PRA) published policy...

Practice Note

STOP PRESS: The Senior Managers and Certification Regime (SM&CR) was extended to insurers regulated by the FCA and PRA from 10 December 2018, replacing the Senior...

Practice Note

Background to the remuneration codes The FCA Handbook currently contains five remuneration codes (Codes), with change driven by European Directives that include the Third...

Practice Note

On 7 March 2016 the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APER) in relation to UK banks, building societies, credit...

Practice Note

The Senior Managers and Certification Regime (SM&CR) and the Approved Persons Regime (APR) are the UK regulators’ framework for regulating individuals working in...

Practice Note

On 7 March 2016 the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APER) in relation to UK banks, building societies,...

Practice Note

This Practice Note explains the Principles for Businesses (PRIN) set down by the Financial Conduct Authority (FCA). The Principles form part of the FCA’s High Level...

Practice Note

This Practice Note explains the high-level requirements of the Remuneration Code (the Code) set out in FCA Handbook SYSC 19A. The Code sets out the standards that banks,...

Practice Note

General role and responsibility of a non-executive director (NED) For information about the roles and responsibilities of NEDs, see Practice Note: Non-executive directors...

Practice Note

The non-executive director (NED) is not a statutory creation and is, essentially, a creature of corporate governance. There is no legal distinction in the Companies Act...

Practice Note

Produced in partnership with Simon Morris, Partner and Gillian MacLellan, Partner of CMS 1 Introduction 1.1 The Financial Conduct Authority (FCA) and the Prudential...

Precedents

The Senior Managers and Certification Regime (SM&CR) will be extended to all firms authorised under the Financial Services and Markets Act 2000 (FSMA 2000) and regulated...

Practice Note

STOP PRESS: The Senior Managers and Certification Regime (SM&CR) was extended to insurers regulated by the FCA and PRA from 10 December 2018, replacing the Senior...

Practice Note

Background to the Fundamental Rules Prior to the creation of the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) in 2013, the predecessor...

Practice Note

FIT and PRA approval For guidance on the PRA approval process, see Practice Note: Application for approval as a PRA-designated Senior Management Function. Performance of...

Practice Note

STOP PRESS: The Senior Managers and Certification Regime (SM&CR) was extended to insurers regulated by the FCA and PRA from 10 December 2018, replacing the Senior...

Practice Note

This Practice Note explains the Remuneration Code for BIPRU firms (the BIPRU Code) under Chapter 19C of the Senior Management Arrangements, Systems and Controls...

Practice Note

Introduction This Practice Note explains the high-level requirements of the Remuneration Code for Dual Regulated Firms (the Code) set out in SYSC 19D of the FCA Handbook....

Practice Note

As a result of failings in the financial services sector which contributed to the 2008 financial crisis, the UK Parliamentary Committee on Banking Standards (PCBS) was...

Practice Note

The Senior Managers and Certification Regime (SM&CR) was extended to firms authorised under the Financial Services and Markets Act 2000 (FSMA 2000) and regulated by the...

Practice Note

Who needs an MRM and when is it required? Firms covered by the Senior Managers and Certification Regime (SM&CR) are required at all times by the Senior Management...

Practice Note