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?

read titleRead full title
Published on LexisPSL on 15/11/2016

The following Financial Services Q&A provides comprehensive and up to date legal information covering:

  • 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?

In March 2016, the Approved Persons Regime (APR) was replaced by the Senior Managers and Certification Regime (SM&CR) which places individual responsibility on employees working within the financial services sector.

The process in relation to non-senior management, falls under the Certification Regime (CR). The Practice Note: SM&CR—essentials for banks and PRA-designated investment firms provides a useful starting point on this topic. It outlines the key changes implemented by the S

Related documents:

Popular documents