Authorisation, approval and supervision

Practice notes

Regulatory action against Senior Managers

Regulatory action against Senior ManagersLexis®PSL Financial Services FCA/PRA Enforcement Database: This incorporates detailed information on all...

Produced in partnership with Lucy Kerr of RPC and Jonathan Cary 1st Aug

Practice notes

SM&CR—application to insurers

SM&CR—application to insurersOn 7 March 2016, the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR) for UK...

Produced in partnership with Carol-Ann Burton and Margarita Kato of Holman Fenwick Willan LLP and Dominic Pereira as research contributor 1st Aug

Practice notes

Control of insurance companies

Control of insurance companiesRegulatory background to insuranceThe Financial Services and Markets Act 2000 (FSMA 2000) established a regulatory...

Produced in partnership with Alice Carse of Devereux Chambers 1st Aug

Q&As

As a relevant authorised person (a regulated firm), when do you have to make a notification to the FCA regarding the conduct of approved persons?

As a relevant authorised person (a regulated firm), when do you have to make a notification to the FCA regarding the conduct of approved persons?For...

31st Jul

Q&As

Do you have any simplified guidance as to how the Financial Conduct Authority defines a ‘Material Risk Taker’ who could cause significant harm (classified as a Certified Person) under the Senior Managers Certification Regime?

Do you have any simplified guidance as to how the Financial Conduct Authority defines a ‘Material Risk Taker’ who could cause significant harm...

31st Jul

Q&As

When and how should a UK firm apply for authorisation or a variation of permission under MiFID II?

When and how should a UK firm apply for authorisation or a variation of permission under MiFID II?This Q&A explains when and how a UK firm should...

31st Jul

Q&As

If a company, regulated by the Financial Conduct Authority has a number of global employees that work in the UK and are employed by the parent company, but the employees are to be transferred to a subsidiary company, are these employees subject to the Senior Managers and Certification Regime if they are employed by a UK regulated entity even though they are working for a non UK business and possibly/probably doing business outside the UK?

If a company, regulated by the Financial Conduct Authority has a number of global employees that work in the UK and are employed by the parent...

31st Jul

Q&As

Will an FCA, solo regulated general insurance intermediary that will become subject (as a core firm) to the Senior Manager's Regime have to have a chief executive function or can the two executive directors simply take on SMF3 executive director functions?

Will an FCA, solo regulated general insurance intermediary that will become subject (as a core firm) to the Senior Manager's Regime have to have a...

31st Jul

Q&As

What are the corporate governance requirements of Solvency II that would need to be considered when determining any corporate governance structure?

What are the corporate governance requirements of Solvency II that would need to be considered when determining any corporate governance...

31st Jul

Q&As

What are the key considerations when a firm contracts with an appointed representative?

What are the key considerations when a firm contracts with an appointed representative?BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’)...

31st Jul

Q&As

What degree of reputational risk is needed for a firm to give notice to the Financial Conduct Authority (FCA) under principle 11 and SUP 15.3 of the FCA handbook?

What degree of reputational risk is needed for a firm to give notice to the Financial Conduct Authority (FCA) under principle 11 and SUP 15.3 of the...

31st Jul

Q&As

What are the notification requirements for a change in control of a firm?

What are the notification requirements for a change in control of a firm?Our Practice Notes Obligations of controllers—acquiring and increasing...

31st Jul

Q&As

How will Prudential Regulation Authority (PRA) applications for ‘approved persons’ for non-senior management functions be treated following implementation of the Senior Managers and Certification Regime change post March 2016?

How will Prudential Regulation Authority (PRA) applications for ‘approved persons’ for non-senior management functions be treated following...

31st Jul

Q&As

What options are available under the Senior Managers and Certification Regime for providing maternity cover for the Head of Internal Audit in an SII firm?

What options are available under the Senior Managers and Certification Regime for providing maternity cover for the Head of Internal Audit in an SII...

31st Jul

Q&As

What are the risks (regulatory/legal) of employing a person in a senior management position (such as a statutory director) in Financial Services if they were previously on the Board of a Company who is faced with legal proceedings or regulatory proceedings or the risk of such proceedings?

What are the risks (regulatory/legal) of employing a person in a senior management position (such as a statutory director) in Financial Services if...

31st Jul

Q&As

How can an unregulated parent manage a FCA regulated subsidiary without obtaining authorisation itself?

How can an unregulated parent manage a FCA regulated subsidiary without obtaining authorisation itself?A firm which carries on regulated activities as...

31st Jul

Q&As

Is there an obligation under the Senior Managers and Certification Regime (SM&CR) for senior managers to undergo either standard or enhanced criminal records or DBS checks?

Is there an obligation under the Senior Managers and Certification Regime (SM&CR) for senior managers to undergo either standard or enhanced criminal...

31st Jul

Practice notes

SM&CR—policy development and key dates

SM&CR—policy development and key datesOn 7 March 2016, the Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR)...

31st Jul

Practice notes

Prudential Regulation Authority—imposition and variation of requirements

Prudential Regulation Authority—imposition and variation of requirements BREXIT: 11pm (GMT) on 31 December 2020 (‘IP completion day’) marked the end...

31st Jul

Practice notes

SM&CR—essentials for claims management companies

SM&CR—essentials for claims management companiesIntroductionThe Financial Conduct Authority (FCA) took over regulation of the claims management sector...

31st Jul

View Financial Services by content type:

Latest Financial Services News

Path to COP26—Net Zero Disputes—key risks

FCA probes Monzo bank over potential AML breaches

Lloyd’s Europe’s operations highlight challenges for UK insurers

Ireland—business interruption disputes focus of 17 percent of ombudsman claims

Featured Financial Services content

Multilateral Trading Facilities (MTFs)

Introduction to the FCA COBS 4 rules

Complaints handling by financial services firms

What is credit and what is a regulated consumer credit agreement?

Most recent Authorisation, approval and supervision content

Popular documents

Directors’ remuneration

What is a third party debt order (TPDO)?

Interim injunctions—the American Cyanamid guidelines

Involuntary manslaughter

Contact Us

Popular Links

Policies

Follow us