CP14/31: Strengthening accountability in banking: forms, consequential and transitional aspects

Published: 19/12/2014     Last Modified: 14/09/2015

This is a technical consultation paper (CP) which we are publishing jointly with the PRA.

Why are we publishing this paper?

This CP follows our consultation in July, which proposed changes to the way individuals working for UK banks, building societies, credit unions and PRA-designated investment firms are assessed and held accountable for the roles they perform. It is a technical CP setting out proposals on transitional arrangements for implementing the regime, new forms to support the regime, and consequential changes to our Handbook.

CP14/31 Strengthening accountability in banking: forms, consequential and transitional aspects [PDF]

Who should read this paper?

This consultation is relevant to all firms authorised under the Financial Services and Markets Act (FSMA).

Next steps

The PRA is seeking feedback on:

  • all PRA and joint PRA/FCA questions
  • the draft PRA rules

We are seeking feedback on:

  • all FCA and joint PRA/FCA questions
  • the FCA draft instrument

Please send your responses to both regulators at the following addresses: cp14-31@fca.org.uk and CP28_14@bankofengland.gsi.gov.uk. The regulators will share responses with each other and publicly, unless you specifically ask for them to remain confidential. Responses should be received by 27 February 2015.

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