Following feedback received on Consultation Paper 34/16, PRA has published its policy statement on strengthening individual accountability in banking and insurance: amendments and optimisations.
The updates in the policy statement include:
- the final rules amending the Senior Managers and Certification and Senior Insurance Managers Regime;
- updates to Supervisory Statement 28/15 Strengthening individual accountability in banking and SS35/15 Strengthening individual accountability in insurance;
- the PRA Statement of Policy entitled Conditions, time limits and variations of approval; and
- final versions of forms with some slight modifications, to be used for applications from Tuesday 12 September 2017.