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FINANCIAL SERVICES: How to comply with the regulatory references regime

02 June 2017  

Catrina Smith and Amanda Sanders explore new requirements aimed at weeding out senior banking executives with poor conduct records

On 7 March 2017, one year after the Senior Managers and Certification Regime was introduced to improve accountability in the financial services sector, the new regulatory reference requirements came into effect. The purpose of regulatory references is to make it harder for senior staff with poor conduct records to be ‘recycled’ between firms. It remains to be seen whether the new rules will have the desired effect of weeding out all those with poor conduct records or will simply create more disputes about references and result in more contentious exits.



Last modified on 06 June 2017