FCA publishes final rules to make those in the banking sector more accountable

FCA publishes final rules to make those in the banking sector more accountable

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FCA publishes final rules to make those in the banking sector more accountable

In July 2015, the FCA and PRA published final rules establishing the Senior Managers and Certification Regime (SM&CR), a landmark regulatory framework designed to restore trust in the banking sector following the 2013 Parliamentary Commission on Banking Standards report, "Changing Banking for Good." Replacing the older Approved Persons Regime, this new system shifted the burden of accountability…

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