Regulatory AlertsCP17/41: Individual accountability: Transitioning insurers and individuals to the Senior Managers & Certification Regime
The Financial Conduct Authority proposes transitioning insurers from the Approved Persons Regime to the Senior Managers and Certification Regime to strengthen individual accountability. The document outlines distinct conversion pathways where small firms and run-off entities undergo automatic conversion, while Solvency II firms and large non-directive firms must submit formal notifications. It further details transitional arrangements for certification assessments and the application of Conduct Rules across the insurance sector.
Share