PRA updates policy statements on accountability regimes

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.