Financial sector regulation

Welcome to Allen & Overy’s Employment Talk blog, sharing with you our views and insights into the latest trends and developments into the employment aspects including regulatory investigations, the senior manager and certification regime, regulated references, whistleblowing and compliance.

Senior managers and certification regime: D-day has arrived

Robbie Sinclair

After years of deliberation and preparation, the new Financial Conduct Authority and Prudential Regulation Authority senior managers and certification regime comes into force today. Many firms will see this date as marking the end of what has been a long consultation and implementation process, but 7 March 2016 is just the start. The regulators have passed Read More

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2016 Employment Law Developments

Sheila Fahy

The employment horizon looks relatively calm this year, although there are a number of significant developments looming. The new rules on gender pay-gap reporting will make an appearance in 2016, but at this stage surprisingly little is known about the extent of these obligations. This makes it difficult to get going with preparation, but hopefully Read More

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Whilst investigating a claim, who’s protecting whose interests?

Joanna Pennick

During an employer’s investigation into serious matters, such as fraud, or regulatory investigations, it often becomes clear that the company’s interests are not aligned with those of its employees. If those employees are alleged to have taken part in the wrong-doing, should the company be protecting its interests (often at the expense of its employees), Read More

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Arriving in March 2016 – The new Senior Managers and Certification Regime

Sarah Hitchins

After months of speculation within the industry, HM Treasury has confirmed that the new Senior Managers and Certification Regime will come into force on 7 March 2016. Most firms will be breathing a sigh of relief at this news as they now have considerably more time to implement the new regime. However, any relief may Read More

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Whistleblowing in Financial Services – Changes Proposed by the Regulators

Sheila Fahy

It will come as no surprise to regulated firms that changes are afoot with regard to whistleblowing. The critical need for robust whistleblowing arrangements that both encourage disclosures and protect those who speak out has been forcefully advocated by the likes of the Whistleblowing Commission, the Parliamentary Commission on Banking Standards, the PRA and the Read More


Banking pay reform: what’s coming up?

Felicity Gemson

Pay regulation was a recurrent theme in last week’s headlines. The Government announced that it is dropping its legal challenge to CRD IV bonus cap rules, confirming what most firms had expected – that the bonus cap is a reality. The Government’s chances of success before the ECJ had plummeted after the Advocate General resoundingly dismissed Read More

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