The banking individual accountability regime came into effect on 7 March 2016. It is likely to impact on nearly all staff in relevant banks, building societies, credit unions and PRA-designated investment firms, and branches of foreign banks operating in the UK.
Its impact is of importance to lawyers and also to internal HR processes as it will impact the employer/employee relationship from the recruitment stage through promotion and to termination.
The aim of this seminar is to cover the core aspects of the regime, focussing particularly on the Senior Managers Regime and offer some practical guidance. It will cover:
- The regulatory context – Why personal accountability and the mood music from Parliament and the FCA
- High level consideration of the Certification Regime and the timetable for implementation of the Conduct Rules.
- Analysis of the Key Requirements under the SMR:
- Senior Management Functions
- Prescribed Responsibilities
- Overall Responsibility
- Mapping responsibilities – the regime and process
- Some practical guidance
- 1 hours
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