FCA to strengthen senior managers' regime with new measures

Rolled out to all regulated financial services firms from 2018

Tom Ellis
clock • 2 min read

The Financial Conduct Authority (FCA) has proposed a number of new measures to strengthen its senior managers' regime after finding some firms were gaming the rules.

In a series of papers published on 28 September, six months after the new rules came into force, the regulator set out its plans for a better functioning accountability regime. Measures proposed included a new guidance on the 'duty of responsibility' for senior managers, a requirement for UK bank branches to highlight FCA whistleblowing services, and an extension of the conduct rules to all non-executive directors of banks and insurers. The regulator will also publish a discussion paper about how those heading up the legal function in firms should be treated. The Senior Managers an...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA: Consumer investment product disclosure system 'not working'

FCA: Consumer investment product disclosure system 'not working'

FCA rules are expected in late 2025

Michael Nelson
clock 11 September 2025 • 2 min read
FCA social media crackdown: Three 'finfluencers' make first court appearance

FCA social media crackdown: Three 'finfluencers' make first court appearance

Case brought as part of FCA-led global crackdown on illegal promotions

Jenna Brown
clock 10 September 2025 • 2 min read
Targeted support regime welcome but rules need 'adjustments'

Targeted support regime welcome but rules need 'adjustments'

Advisers, providers and trade bodies call for clarity as consultation closes

Sahar Nazir
clock 29 August 2025 • 4 min read