Financial services sector information

Fiona Cuming

Editor's message: In the last 10 years, the financial services sector has had to cope with a major regulatory shake-up following the global financial crisis of 2008 and the series of financial scandals that came to light.

Turning to the new regimes, the Senior Managers Regime (SMR) and the Certification Regime (CR) were extended to insurers on 10 December 2018, and to all firms authorised by the FCA on 9 December 2019.

The financial changes have not yet ended and will continue at a pace in 2021 after passporting rights ceased at the end of the Brexit transition period on 31 December 2020.

The evolving landscape can be challenging for financial organisations. Our financial services manual will help you as it covers the key aspects of the new regulatory world, including the SMR and CR, new rules and requirements, the FCA's expectations of firms during the coronavirus outbreak, and practical implications and future developments after Brexit.

Fiona Cuming, employment law editor

New and updated