FCA

RDR definition 'too difficult' to achieve, respondents to consultation said

Confirms exam meets needs of those advising on FCA activities 4 and 6

Surveyed investment banks and asset managers

'Excessive' use of non-monetary benefits found

Investigation pending since 2013

Third consultation paper published by regulator

Comes as regulator seeks to strengthen senior managers' regime

Rolled out to all regulated financial services firms from 2018

More progress needed on Senior Managers Regime

Reportedly once spent £125,000 on single bottle of Champagne