UK: PRA/FCA consultation papers - new senior managers regime and new remuneration rules

The Financial Conduct Authority and Prudential Regulation Authority published two joint consultation papers today. The first, titled Strengthening accountability in banks: a new regulatory framework for individuals, sets out the proposed framework for the new senior managers regime and the new certification regime: see here (pdf). The second paper, titled Strengthening the Alignment of Risk and Reward: New Remuneration Rules, sets out proposed changes to the Remuneration Code: see here (pdf).