On 5 November 2019 the PRA published a new ‘Dear CEO’ letter summarising their priorities for the general insurance sector for 2020. The priority areas of focus for the months ahead include:
reserve adequacy and associated governance and controls;
discipline in underwriting strategies, remediation activity and controls;
emerging risk trends and exposure management practices;
Three years have passed since the banking sector implemented the Senior Managers & Certification Regime (SMCR) and two years since the regulatory references regime came into force. From 9 December 2019, solo regulated firms will also become subject to these rules. Can any lessons can be learned from the banking sector’s bedding in period?
The PRA has reminded credit unions of its expectations regarding operational risk and resilience, cyber security and outsourcing issues in the published findings of its 2019 annual assessment of the credit union sector.
The impact of the SMCR on exits We will be holding the fourth and final webinar in our series "The Senior Managers and Certification Regime - HR impact - are you up to speed?" on Wednesday 24 October 2018 12:15 – 13:00 (UK time) in which we will consider the ...
The government backed report, Empowering Productivity: Harnessing the talents of Women in Financial Services led by Jayne-Anne Gadhia CBE, CEO of Virgin Money, was published on 22 March 2016. It makes a number of recommendations to improve the progress of women beyond middle management to increase female representation at senior ...
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The changes set out in the appendices of PRA PS20/19, implementing changes to the prescribed responsibility for recovery and resolution under SM&CR, will come into force.
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