Senior Managers Regime – TC Alexander Sloan Credit Union Services

Accountability Regime Update

Steven Cunningham — Mon, 21 Aug 2017 07:46:53 +0000

The new accountability regime is an area where there has been a constant raft of changes. From Monday 3 July firms conduct rules will apply to Notified Non-Executive Directors. In addition, firms will be required to notify the PRA if there are any internal disciplinary action due to breaches of the Conduct Rules against Notified Non-Executive …

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PRA Accountability Regime Guidance

Steven Cunningham — Wed, 26 Oct 2016 09:03:15 +0000

The PRA have issued Supervisory Statement 28/15 Update 2. The Supervisory Statement provides guidance on what the PRA expect with regard to the new regime. The statement provides useful guidance on areas such as regulatory references and assessing non-executive directors and the fit and proper rules. All Credit Unions should therefore familiarise themselves with the statement. The …

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Senior Managers Regime : FCA Workshops

Steven Cunningham — Thu, 03 Dec 2015 13:04:31 +0000

The FCA have carried out a series of roadshows on the new Certification and Senior Managers Regimes. The roadshows provided key guidance on how the new regimes will be applied for Credit Unions. One key point raised was that the FCA expect that for some Credit Unions they expect to see the SMF8 role (Senior Credit Union Manager) …

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Strengthening accountability in banking

Steven Cunningham — Fri, 16 Oct 2015 13:34:39 +0000

On 15 October, the Treasury issued a policy paper on the new system that will replace the approved persons’ regime. This followed the Fair and Effective Markets Review (FEMR). The policy paper extends the new system to more financial services organisations and also makes a number of significant changes to how the rules will apply to …

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Supervisory Statement on Approved Persons Regime

Steven Cunningham — Tue, 07 Jul 2015 09:53:41 +0000

The PRA have today issued Supervisory Statement 28/15, “Strengthening individual accountability in banking”. The statement sets out how the PRA expect relevant firms, including Credit Unions, to comply with the new approved persons framework. There has been numerous consultations on these proposals and a number of significant changes along the way. We would therefore strongly …

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