Since 7 March 2017, firms in the banking and insurance sectors are subject to new rules on regulatory references.
The new rules are intended to help prevent the "recycling" of individuals with poor conduct records, so-called "rolling bad apples", between firms.
The new rules form part of the Senior Managers and Certification Regime (SMCR) for banks, building societies and other financial institutions and the Senior Insurance Managers Regime (SIMR) for insurance firms.
Following an extended period of consultation, the regulators have now published the final rules.
Download our article to find out the key issues you need to consider.
This publication is intended for general guidance and represents our understanding of the relevant law and practice as at December 2016. Specific advice should be sought for specific cases. For more information see our terms & conditions.
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