Individuals

Taking enforcement action against individuals has long been a priority for the FCA in the UK, as well as regulators across the globe. Read Allen & Overy’s thoughts on this topic below.

A slow start to enforcement activity under the UK SMCR

Sarah Hitchins

Attempts made by the UK Financial Conduct Authority (the FCA) to reassure the industry that the UK Senior Managers and Certification Regime (the SMCR) is not ‘all about enforcement’ have been met with some scepticism. However, that scepticism may have been misplaced, in light of the latest figures from the FCA regarding the number of Senior Read More

No Comments

Mapping responsibility: HKMA extends focus on management and its accountability

Charlotte Robins

On 16 October 2017, the Hong Kong Monetary Authority (HKMA) announced the introduction of a new Management Accountability Initiative (MAI) aimed at increasing the accountability of the senior management of Hong Kong registered institutions (RIs). The MAI, effective from 16 March 2018, requires every RI to identify (and disclose to the HKMA and the SFC) Read More

No Comments

A&O SMCR reflections: Don’t overlook these things when considering employee conduct and performance issues

Sarah Hitchins

A lot of time has been spent by some firms managing conduct and performance issues under the UK Senior Managers and Certification Regime (the SMCR) over the past 15 months. In our second blog post looking at these issues (the last one is available here), we highlight key areas that firms should not lose sight Read More

No Comments

A&O SMCR reflections: Managing conduct and performance issues

Sarah Hitchins

The UK Senior Managers and Certification Regime (the SMCR) has been in force now for well over a year. What challenges have firms have been facing? What are the issues that have caused firms most concern? In the first of a series of blog posts, we will be looking at issues that firms have been Read More

No Comments

Whistleblower update: Normal service resumes at the SEC’s Office of the Whistleblower

Kurt Wolfe

Things went conspicuously quiet at the SEC’s Office of the Whistleblower after President Trump took office. Over the past several weeks, however, there have been a number of interesting developments at the Whistleblower Office, which remind us that the SEC’s whistleblower program is still up and running. In this blog, we take a look at Read More

No Comments