Page 37 - Certification Regime News Today : Breaking News, Live Updates & Top Stories | Vimarsana

FCA to question firms on diversity and inclusion By Sonia Rach 27 th April 2021 9:16 am The Financial Conduct Authority plans to interrogate firms on diversity and inclusion by adding a sixth question to its conduct questions list. Currently the five conduct questions, focus on “tone from within” and require every person in an organisation to be personally accountable and engaged. Speaking at a virtual event at NYU Law School, FCA executive director of enforcement and market oversight Mark Steward said the regulator is “considering a sixth question”. He als...

Firms face ‘last chance’ for directory persons deadline By Katey Pigden 27 th April 2021 8:46 am Financial firms who did not meet the Financial Conduct Authority’s directory persons deadline at the end of March are being urged to heed the final call for submissions. Last week, the FCA emailed some 2,800 consumer-facing firms who did not submit the required information about certified staff, giving them a week to comply, according to B-Compliant. The compliance firm’s director Vicky Pearce, said: “It is likely many small firms without compliance support we...

Compliance, Culture And Evolving Regulatory Expectations, Speech By Mark Steward, UK Financial Conduct Authority Executive Director Of Enforcement And Market Oversight, Delivered At NYU Law School Date Event: NYU Law School (Virtual) Delivered: 31 March 2021 Highlights The Senior Managers Regime (SMR) has changed the way firms allocate responsibilities, align those responsibilities to relevant controls and ensure oversight as to how these controls operate down the line. The 5 Conduct Questions (5CQ), which start with ‘tone from the top’, are increasingly focussing on ‘tone from wit...

<p><span>The FCA has published a&nbsp;</span><a rel="noopener noreferrer" target="_blank" class="ext" href="https://www.bankofengland.co.uk/prudential-regulation/publication/2021/april/joint-pra-and-fca-statement-on-the-fsb-peer-review-on-remuneration">joint statement&nbsp;with the PRA<span class="ext"></span></a><span>&nbsp;welcoming the Financial Stability Board&rsquo;s (FSB) Peer Review of the UK&rsquo;s remuneration regime.</span></p>

Have the regulator’s SMCR rules changed anything? Work on the assessment of implementation had been delayed but will be an area of focus for the FCA this year By Jon Roberts 14 th April 2021 3:37 pm Now that the final elements of the Senior Managers and Certification Regime have been implemented for FCA solo-regulated firms, it’s a good time to reflect on how it went and any lessons learned. There is a view that SMCR has not really changed anything — that it was merely a development of existing rules and guidance or the latest FCA passing fancy. Of course, the FCA holds ...