The new Senior Managers Regimes in practice


To be held on Wednesday, January 18, 2017, from 6.30-8.00pm

In association with the London Institute of Banking & Finance


Speakers

  • Peter Bibby (Brown Rudnick LLP)

  • Alexandra Carn (Edwin Coe LLP)

  • David Biggin (PA Consulting)

  • Francis Kean (Willis)


Agenda

 

It is now almost a year since the “new” Senior Managers Regimes for banking and insurance came into force. They were a long time in the making. Should anyone have forgotten, they were prompted by the Parliamentary Commission on Banking Standards which concluded in June 2013:

Too many bankers, especially at the most senior levels, have operated in an environment with insufficient personal responsibility. Top bankers dodged accountability for failings on their watch by claiming ignorance or hiding behind collective decision-making. They then faced little realistic prospect of financial penalties or more serious sanctions commensurate with the severity of the failures with which they were associated.”

Anecdotally, the new SMRs seem to have prompted real change – not all of which has been welcomed. We’ve even heard complaints that managers may be raising concerns for the benefit of posterity rather than the benefit of their companies.

But what should banks and insurers be doing? Are the new rules well enough established for a “best practice” to exist? And how should firms be preparing for their next regulatory review? To discuss best approaches to the new rules, we are pleased to welcome the following experts:

  • Peter Bibby, a financial services partner at Brown Rudnick and a former head of enforcement at the FSA. Peter’s practice focuses on enforcement proceedings and remediation, representing both institutions and individuals.
  • David Biggin, managing consultant in PA Consulting’s financial services practice. David specialises in financial regulation, governance, and technology.
  • Alexandra Carn, a financial services employment partner at Edwin Coe. She represents clients in both non-contentious (contracts, remuneration, governance) and contentious situations.
  • Francis Kean, an executive director at Willis and former partner at Barlow Lyde and Gilbert. He has won awards for innovation in D&O insurance and edited the latest edition of Directors' and Officers' Liability Insurance. 

This is an issue of significance to the industry, to regulators, and to senior managers themselves. If you would like to join us – and to share your own thoughts – please let us know by emailing alex@csfi.org or by calling the office on 020 7621 1056. As usual, snacks and refreshments will be provided from 6.00pm.

Regards,

Andrew Hilton
Director
CSFI