UK’s New Regulatory Regime for Individuals – Branches of non-UK firms
Please join us for our breakfast briefing on Wednesday 7 October, where we will look at the UK’s new regulatory regime for individuals, particularly how it applies to UK branches of EEA and non-EEA banks and PRA-designated investment firms.
The new UK regime for strengthening accountability in banks and large investment firms comes into force on 7 March 2016. This is the first in a series of briefings looking at how the new regulatory regime affects specific individuals. On 7 October we will consider the application of the regime to UK branches of non-UK banks and large investment firms. This briefing is of relevance to UK branches of both EEA and non-EEA firms.
The regime as it applies to branches will be tailored to reflect the lower level of risk they offer to the UK economy but it will follow the same basic framework as the regime for UK firms. The "near final" version of the new rules for UK branches of non-UK firms was published on 13 August 2015. The regime for branches will come into operation on the same date as the main regime (7 March 2016) and the firms affected will have until 8 February 2016 to notify the UK regulators of the individuals who are eligible to transfer from the old regulatory approval regime to the new regime.
Join us to hear how this regime could affect you and your firm and what you need to do between now and March 2016.