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Following the publication of the Central Bank’s draft Guidance on the Individual Accountability Framework (IAF) in March 2023 and the consultation process which closed in June 2023, it appears that publication of the final Guidance and the feedback statement on the Consultation is imminent and will be published next week.
REGULATORY INVESTIGATIONS The New Central Bank Administrative Sanctions Procedure Draft Guidelines and Consultation Paper Update and Insights on the proposed new enforcement regime for financial services firms 36 MIN READ algoodbody.com The New Central Bank Administrative Sanctions Procedure Draft Guidelines and Consultation Paper | 2023 CONTENTS 00/ AT A GLANCE THE PROCESS AND KEY CHANGES03 01/ COMMENCING AN INVESTIGATION 05 02/ GATHERING EVIDENCE 06 03/ PRIVILEGE AND CONFIDENTIALITY 07 04/...
FINANCIAL REGULATION & INVESTIGATIONS First Enforcement Action for breach of UK Senior Manager Conduct Rules On 13 April 2023, the UK's Prudential Regulation Authority (PRA) imposed a financial penalty of 81,620 on an individual for failing to comply with a Senior Manager Conduct Rule under the UK's Senior Managers and Certification Regime (SMCR). This is the first enforcement action in the UK against a Senior Manager for a breach of the UK Senior Manager Conduct Rules (UK Conduct Rules).
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.