The final regime
FCA
The Individual Accountability Instrument 2015 (FCA 2015/31)
- rules and guidance for the new Code of Conduct sourcebook (COCON) (annex A)
- amendments to the Senior Management Arrangements, Systems and Controls sourcebook (SYSC) (annex C)
- amendments to the Fit and Proper test for Approved Persons (FIT) (annex D)
- amendments to the Supervision manual (SUP) (annex E), including new chapter 10C (FCA senior management regime for approved persons in relevant authorised persons) and new forms relating to the regime.
PRA
The PRA Rulebook instruments:
CRR Firms Non-CRR Firms: Individual Accountability Instrument 2015 (PRA 2015/6)
- the new Senior Management Functions Part (annex B)
- Allocation of Responsibilities Part (annex C)
- Certification Part (annex D), and
- Fitness and Propriety Part (annex E).
CRR Firms Non-CRR Firms: Individual Accountability Instrument (No 2) 2015 (PRA 2015/55)
- amendments to the Senior Management Functions Part (annex B)
- allocation of Responsibilities Part (annex C)
- Certification Part (annex D)
- Fitness and Propriety Part (annex E), and
- the new Conduct Rules Part (annex F), Senior Managers Regime - Applications and Notifications (annex H) and Senior Managers Regime - Transitional Provisions (annex I)
CRR firms Non-CRR Firms: Individual Accountability Instrument (No 3) 2015 (PRA 2015/69)
- amendments to the Senior Management Functions Part (annex B)
- allocation of Responsibilities Part (annex C),
- Senior Managers Regime - Applications and Notifications (annex D)
- Fitness and Propriety Part (annex E),
- Conduct Rules Part (annex F), and
- Certification Part (annex G).
The PRA supervisory statements
- SS28/15 Supervisory statement on strengthening accountability in banking.
- responsibilities of inscope NEDS
- scope of Senior Manager Regime
- executive and oversight SMFs
- sharing a SMF
- sharing Prescribed Responsibilities
- contents of Statements of Responsibilities and Management Responsibilities Map
- Certification Regime
- which roles are certification functions
- identifying and describing functions in certificates
- moving functions during certification year
- Assessing fitness and propriety
- Conduct rules and notification requirements
- persons and activities to which rules apply
- assessing compliance with the rules
- application to NEDs
- notification of breaches
- (PRA's approach to the SMR, the certification regime and the application of the conduct rules).
PRA Statement of Policy
- PS3/15 March 2015 Policy Statement: Strengthening individual accountability in banking and insurance
- PS16/15 July 2015 Policy Statement: Strengthening individual accountability in banking
- Conduct rules - content and scope
- Conditional approval
- Transitional arrangements
- Statements of responsibilities
- Reporting breaches of Conduct Rules
- Approach to NEDs
- Presumption of responsibility
- July 2015 Policy Statement Conditions, time limits and variations of approval
- PS27/16 September 2016 Policy Statement: Strengthening accountability in banking and insurance: PRA requirements on regulatory references (part II)
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