News & Analysis as of

Individual Accountability United Kingdom

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

White & Case LLP

2019 Half-year in review: M&A legal and market developments

White & Case LLP on

We set out in the attached Newsletter a number of interesting English court decisions and market developments which have taken place in the second half of 2019 and their impact on M&A transactions. This review looks at these...more

Skadden, Arps, Slate, Meagher & Flom LLP

Transatlantic Approach on Corporate Cooperation: How Newly Issued French and UK Guidance Compare to US Practices

As widely anticipated, French and U.K. regulators recently published guidance detailing their expectations for corporate cooperation in enforcement investigations. Both sets of guidance demonstrate further alignment of those...more

Mitratech Holdings, Inc

With Great Power Comes Great Responsibility – How to Deal With the Growth in Accountability and Responsibility Regulations

With potential large fines and prohibitions, managers will have ever-greater pressures upon them to ensure their teams meet required compliance standards and show that effective controls have been put in place to prevent...more

A&O Shearman

UK Regulators Consult Further on Extension of Individual Accountability Regime to All Financial Services Firms

A&O Shearman on

The UK Financial Conduct Authority and Prudential Regulation Authority have issued further consultations on aspects of the extension of the Senior Managers and Certification Regime to all firms authorized under the Financial...more

Hogan Lovells

Corporate Insurance Newsletter – December 2017

Hogan Lovells on

The Hogan Lovells’ Corporate Insurance Newsletter for December has been published. This provides a round-up of UK, EU and international regulatory developments relevant to UK based insurance market participants. ...more

A&O Shearman

Prudential Regulation Authority Publishes Policy Statement on Strengthening Individual Accountability in Banking

A&O Shearman on

The Prudential Regulation Authority has published a Policy Statement on strengthening individual accountability in banking. The Policy Statement provides the PRA's final policy on a number of issues. Among other things, the...more

Dechert LLP

Every Little Helps with a DPA

Dechert LLP on

Lord Justice Leveson approved Tesco Store Limited’s (“Tesco”) Deferred Prosecution Agreement (“DPA”) on 10 April 2017, making them the fourth company since November 2015 to enter into a DPA with the UK’s1 Serious Fraud Office...more

King & Spalding

The Senior Managers Regime – should GCs be worried?

King & Spalding on

In March this year the PRA and the FCA introduced the Senior Managers Regime (‘SMR’) for individuals associated with banks and PRA regulated investment firms (from 2018 the SMR will apply to all UK authorised firms). The...more

WilmerHale

The devil is in the detail: call for global standards for corporate settlements in foreign bribery cases

WilmerHale on

March 16, 2016, saw the OECD host an Anti-Bribery Ministerial meeting in Paris to discuss how to strengthen the implementation of its Anti-Bribery Convention. In the run up to the meeting, the respective heads of Corruption...more

Morgan Lewis

New UK Regime to Strengthen Senior Management Accountability

Morgan Lewis on

On 7 March 2016, two new regulatory regimes governing the accountability of senior managers will take effect—the Senior Managers and Certification Regime will cover the banking sector, and the Senior Insurance Managers Regime...more

Locke Lord LLP

“Taking no prisoners!” The Senior Insurance Manager Regime

Locke Lord LLP on

The 13th August 2015 was not just an unlucky number 13 but the date the Prudential Regulatory Authority (PRA) and the Financial Conduct Authority (FCA) chose to publish the long awaited rules on the Senior Insurers Manager...more

Cooley LLP

Blog: The Senior Insurance Managers Regime – Strengthening Individual Accountability In Insurance

Cooley LLP on

We will prepare a short, practical, summary of the Senior Insurance Managers Regime, which explains what the new rules will require, and when. Our summary will also explain how today’s controlled function holders will be...more

Morgan Lewis

UK Financial Institutions Strengthen Accountability

Morgan Lewis on

UK regulators extend the new regulatory framework that governs individual accountability to banking and insurance. The UK Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) published their...more

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