Regulatory Alerts2019-01-22
Added · Updated
PS19/20: Optimising the Senior Managers & Certification Regime and feedback to CP19/4
The Financial Conduct Authority makes final rules extending the Senior Managers and Certification Regime to FCA solo-regulated firms, including claims management companies, effective 9 December 2019. The rules exclude the Head of Legal from the Senior Managers Regime approval requirement, amend the intermediary revenue criterion for the Enhanced regime to include Non-Retail Mediation Activity B firms with over £35m annual revenue, and extend Senior Manager Conduct Rule 4 to non-approved Executive Directors at Limited Scope firms. Firms must submit data on the Directory of financial services workers starting 9 December 2019, while banking and insurer firms may begin submitting data from September 2019.
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