Guidance on the Senior Managers' Regime, the Certification Regime and the Conduct Rules
In this half-hour video, Alexandria Carr and Mark Compton of Mayer Brown International LLP discuss the UK's new regulatory regime for individuals working in banks, large investment firms and insurers, including those working in UK branches of these firms.
The new UK regime for strengthening accountability in banks, large investment firms and insurers comes into force on 7 March 2016. The regime for branches of both EEA and non-EEA firms will come into operation on the same date. The firms affected have until 8 February 2016 to notify the UK regulators of the individuals who are eligible to transfer from the old regulatory approval regime to the new regime.
Alexandria and Mark explain how the new requirements could affect you and your firm, and what you need to do between now and March 2016 to prepare.
The scope of the new rules
The Senior Managers' Regime
How the Senior Managers' Regime applies to branches
The Senior Insurance Managers' Regime
The Certification Regime
How the Certification Regime applies to branches
The Conduct Rules
When the new requirements come into force
How firms should prepare
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