The FCA and PRA have published a joint consultation paper (FCA CP15/5 and PRA CP7/15) on the revised position of Non-Executive Directors (NEDs) of UK banks in respect of the Senior Managers Regime (SMR), as well as the application of the presumption of responsibility provisions introduced by the Financial Services (Banking Reform Act) 2013 to […]

Big changes to the regulatory regime for senior bankers are on their way as a result of the Financial Services (Banking Reform) Act 2013. The regulators have still to consult on the detail, but the main points are already clear. This briefing looks at the implications of the new regime. http://www.freshfields.com/uploadedFiles/SiteWide/Knowledge/00294_PG_Corp_Senior%20Persons%20Regime_V3.pdf