Regulatory Alerts2017-07-21
Added · Updated
PS18/15: Extending the Senior Managers and Certification Regime to insurers
The Financial Conduct Authority extends the Senior Managers and Certification Regime to insurers, replacing the revised Approved Persons Regime and amending the Senior Insurance Managers Regime. The new rules apply to all insurers and reinsurers regulated by the FCA and the PRA, including Solvency II firms, large and small Non-Directive firms, and small run-off firms. Insurers must transition to the new regime by 10 December 2018, with specific Senior Management Functions and certification requirements defined for different firm categories.
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