Virtual Seminar - Individual accountability in UK financial services: Themes and Trends

Tue 23 Mar

8:30 am to 9:30 am (UK time)

Calum Burnett - Allen & Overy, London, Partner - Profile

Sarah Hitchins - Allen & Overy, London, Partner - Profile

Robbie Sinclair - Allen & Overy, London, Partner - Profile

Tom Lodder - A&O Consulting , Managing Director - Profile

Synopsis: Five years on from the Senior Managers and Certification Regime (SMCR) first coming into force, there are now over 46,000 regulated firms in the UK that are subject to its requirements. Individual accountability remains high on the agenda for the UK financial services regulators and firms and considerable focus has been placed on the topic in the regulators' responses to the Covid-19 pandemic. This webinar will give an update on the key regulatory and employment law themes and trends that firms need to be aware of and provide our insights on some of the main challenges that firms face in this area, including: • The Duty of Responsibility and what 'reasonable steps' look like in practice; • Lessons learned from routine annual assessments of fitness and propriety; • How to balance employment law requirements and regulatory expectations when assessing employee misconduct under the SMCR; • Handling allegations of non-financial misconduct under the SMCR; • How to effectively manage Senior Manager applications and handovers; and • Ensuring compliance with the regulators' rules on regulatory references. This seminar will be relevant to individuals who work at regulated firms and who are involved in the operation of the SMCR, including individuals who work in Compliance, Employment, Investigations, Legal and Risk teams.

This seminar qualifies for 1 CPD point/s

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