SM&CR Phase 2: PRA CP14/26 Proposals, Responses Due 22 January 2027
On 22 October 2026 the Prudential Regulation Authority published CP14/26, its SM&CR Phase 2 consultation, and the Financial Conduct Authority published its companion paper CP26/37 the same day. The PRA proposes to remove regulatory pre-approval for almost half of the current Senior Manager Functions (SMFs), to drop the requirements to assess, certify and seek regulatory…