FCA outlines new conduct rules for financial firms

The consultation 'Individual Accountability: Extending the Senior Managers & Certification Regime to all FCA firms' aims to "reduce harm to consumers" by making senior people in firms more responsible and accountable for their actions. It follows Parliament's recommendation following the financial crisis that the FCA develop a new accountability system that was more focused on senior managers and individual responsibility. The new senior managers regime, which replaced the approved persons regime, was applied to banks from March 2016 and will now be widened out to all regulated firms....