Chancellor Hunt to launch review of Senior Managers and Certification Regime - reports

As part of wider regulation reform

Chancellor Jeremy Hunt is planning to overhaul the Senior Managers and Certification regime as part of a wider regulation reform set to be unveiled on Friday (9 December).

According to a report by the Financial Times, Hunt will announce a review of the system as one of 30 reforms to financial services regulation, known as the 'Edinburgh Reforms'. People familiar with the matter told the newspaper that Hunt will say on Friday that the regime will be reviewed by regulators and the government early next year.  The regime, introduced by the FCA across the UK banking sector in March 2016, was put in place to reduce consumer harm and strengthen market integrity in the financial services sector by making individuals accountable for their conduct and competence...