Banks must keep abreast of regulatory change and make tough decisions in order to satisfy regulators’ demands and maintain business as usual. The year 2014 was a year characterised by billion-dollar bank fines, endless consultations and tough talk from politicians, but 2015 looks set to be the year that banks gain clarity on new banking rules and can start to implement change.
The UK’s Financial Conduct Authority is set to introduce the new Senior Managers and Certified Persons Regime in 2015, to replace the existing Approved Persons Regime, which will impose greater responsibility and accountability on individuals.
