Financial services

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Banks, building societies and large investment banks have now had over a year to grapple with the new requirements under the Senior Managers and Certification Regimes.

These regimes will not be restricted to the banking sector, as there are measures in place to roll them out next year, in a modified form, to all other parts of the regulated financial sector, including the bond, currency, and commodity markets.

And the reform of the financial services industry continues at a pace in 2017, starting with the new rules on obtaining regulatory references, which came into force on 7 March 2017. The FCA and PRA’s goal is to assist employers to make better recruitment decisions about the fitness and propriety of applicants for senior roles and other key functions.

Our financial services manual covers the regimes, new rules, implications and future developments.

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About this topic

HR and legal information and guidance relating to employers in the financial services industry.

Financial services: key resources

Contributing authors

Nick Thorpe is a partner in the employment and pensions group at Fieldfisher.

Neil Johnston is a director in the employment and pensions practice at Fieldfisher.

Bridget Barker is a partner and head of the investment funds and financial services group at Macfarlanes.

Paul Ellison is a partner in the financial services group at Macfarlanes.