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