HM Treasury has announced that the Senior Managers and Certification Regime will apply from 7 March 2016 in respect of UK banks, building societies, credit unions and PRA-regulated investment firms as well as the UK branches of foreign banks: see here. The relevant legislative provisions will be brought into force by the Financial Services (Banking Reform) Act 2013 (Commencement No. 9) Order 2015.
Thursday, 5 March 2015
UK: The Senior Managers and Certification Regime - update on start date and application to UK branches of foreign banks
HM Treasury has announced that the Senior Managers and Certification Regime will apply from 7 March 2016 in respect of UK banks, building societies, credit unions and PRA-regulated investment firms as well as the UK branches of foreign banks: see here. The relevant legislative provisions will be brought into force by the Financial Services (Banking Reform) Act 2013 (Commencement No. 9) Order 2015.
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