UK:
Order Published Which Paves The Way For Rules On Regulation Of Senior Management
25 July 2014
Shearman & Sterling LLP
To print this article, all you need is to be registered or login on Mondaq.com.
On 9 July 2014, an Order was made and published which will bring
into effect, on 25 July 2014, certain provisions of the Financial
Services (Banking Reform) Act 2013 relating to the conduct of
persons working in the financial services sector. The Order paves
the way for the PRA and FCA to consult on rules and statements of
policy on the regulation of senior management, the certification of
certain employees of financial institutions, the applicability of
rules of conduct to all employees of financial institutions and the
extension of the limitation period for imposing sanctions. The
regulators are expected to consult on these issues before the end
of 2014.
The Order is available at:
http://www.legislation.gov.uk/uksi/2014/1819/pdfs/uksi_20141819_en.pdf.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Finance and Banking from UK
Asset Recovery Comparative Guide
Bird & Bird
Asset Recovery Comparative Guide for the jurisdiction of UK, check out our comparative guides section to compare across multiple countries
Q&A: Safe Harbours For VASPs - Part 1
Ogier
Asian Legal Business was keen to hear from our experts on how this will allow virtual asset services providers (VASPs) to anchor in theses jurisdictions, despite increased regulatory burdens...
Q&A: Safe Harbours For VASPs - Part 2
Ogier
In 2023, Jersey and the British Virgin Islands passed legislation indicating they were welcoming virtual asset service providers, joining the likes of the Cayman Islands...
CRD VI And Its Impact On Lending Into Europe
Cadwalader, Wickersham & Taft LLP
December 2023 saw the publication by the EU of the near-final version of its ‘Banking Package' that makes significant changes to the Capital Requirements Directive known as ‘CRD VI'.
Financial Promotion Exemptions – UK Government U-Turn
Shepherd and Wedderburn LLP
In response to criticism, the UK Government announced in the 2024 Spring Budget that recent changes to the financial promotion exemptions eligibility criteria would be partially reversed from 27 March 2024.