Published by Global Banking & Finance Review®
Posted on July 15, 2025
1 min readLast updated: January 22, 2026
Add as preferred source on GoogleUK regulators propose changes to simplify senior manager certification rules, aiming to reduce red tape and support financial services growth.
LONDON (Reuters) -Britain's Financial Conduct Authority and Prudential Regulation Authority proposed changes on Tuesday to simplify the senior managers and certification regime in a bid to reduce red tape for financial firms.
"We are proposing streamlining the rules, so they work better for industry and support competitiveness... while maintaining the high standards the regime has set," FCA Chief Executive Nikhil Rathi said.
The proposals include giving firms more time to appoint senior managers in unexpected situations, cutting duplication in certification roles and extending the validity of criminal record checks.
The consultation, part of broader efforts to support growth in financial services, runs until October 7.
(Reporting by Sachin Ravikumar, writing by Sam Tabahriti)
UK regulators are proposing to simplify the senior managers and certification regime to reduce red tape and enhance competitiveness while maintaining high standards.
The proposals include extending the time for firms to appoint senior managers in unexpected situations, reducing duplication in certification roles, and extending the validity of criminal record checks.
The consultation period for these proposals runs until October 7.
The proposals are led by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
The goal is to streamline the rules to better support the industry and enhance competitiveness while maintaining the high standards set by the existing regime.
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