< Regulars | 06.07.2017

SMR, CR and SIMR – PRA policy statement on amendments and optimisations

SMR, CR and SIMR – PRA policy statement on amendments and optimisations

The Prudential Regulation Authority (PRA) has published a policy statement on amendments and optimisations to the senior managers regime (SMR) and certification regime (CR) and the senior insurance managers regime (SIMR) following an earlier consultation.

The policy statement includes:

  • Final rules amending the SMR, the CR and the SIMR;
  • Updates to the PRA’s supervisory statements on strengthening individual accountability in banking and in insurance, respectively; and
  • Updates to the PRA’s statement of policy on the conditions, time limits and variations of approval.

For more information see: http://bit.ly/2r8YVc0

Share

Related articles

The challenges for insurance and regulators in a Big Data world

The challenges for insurance and regulators in a Big Data world

Chief executive of the FCA, Andrew Bailey, delivered a speech at the Association of British Insurers’ annual conference...

PRA Dear CEO letter – Contingency planning for the UK’s withdrawal from the EU

PRA Dear CEO letter – Contingency planning for the UK’s withdrawal from the EU

Sam Woods,deputy governor for prudential regulation and CEO of the PRA, has sent a letter concerning contingency planning to the CEOs and Branch Managers of banks

Transparency in insurance renewals

Transparency in insurance renewals

On 1 April 2017, new rules came into effect that will increase transparency and engagement at renewal in general insurance markets.