Second consultation on extending SM&CR to insurers

The PRA has published the second part of its consultation on the extension of SM&CR to insurers.

These proposed amendment to its rules consist of ‘technical consequential changes’ and ‘minor administrative amendments’ arising from this extension, for example refining the scope of those individuals for whom insurers may consider seeking approval for a PRA senior manager function.

The consultation closes on 17 October 2018; proposed rule changes will take effect from the implementation of the SM&CR extension, ie 10 December 2018.