Governance

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    HMT has announced that it intends to proceed with its new Senior Managers & Certification Regime (SM&CR) for financial market infrastructures (FMIs). The new regime will be similar to the SM&CR for other regulated financial services firms, and will introduce a new era of personal responsibility for individuals within FMIs. ...

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    Background HMT has confirmed that it will legislate to permit UK financial regulators to directly oversee and supervise (previously unregulated) “critical” third parties (“CTPs”) that provide services to the finance sector. Financial services firms have become increasingly reliant upon cloud and other third-party providers in recent years, coming to rely ...

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    HM Treasury is proposing to introduce a Senior Managers and Certification Regime (“SM&CR”) for financial market infrastructures (“FMIs”) to encourage effective governance, incentivise good behaviour and ensure employees give adequate oversight to the areas for which they are responsible. The deadline for responses is 22 October 2021. The FMIs covered ...

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    The UK Government’s Consultation on restoring trust in audit and corporate governance (which can be found here) has implications for executive remuneration policies in the UK. The Consultation is open to everyone but will be of particular interest to large privately-owned companies, FTSE350 companies, users and preparers of accounts, and ...

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    Welcome to the fourth article in our Executive Remuneration series. In this article, we expand on considerations and issues of culture within the context of remuneration for regulated firms, which were briefly touched on in previous articles within this series. Although there are a large number of other considerations that ...

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