The government has launched its review of the Senior Managers and Certification Regime, part of a wide-ranging shake-up to make UK financial services more competitive post-Brexit.
The call for evidence came alongside the Financial Conduct Authority and the Prudential Regulation Authority issuing a discussion paper with 22 questions seeking input on potential ways to improve SMCR.
HM Treasury is calling for financial services firms, including insurance, to help answer questions that will shape any reform of SMCR.
Key questions in its paper include:
Has SMCR delivered against its core objectives? Do these objectives remain right for the UK? Has SMCR remained true toOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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