Mon. Aug 19th, 2019

Planet Compliance

Innovation & Regulation in Finance

FCA confirms accountability rules for wholesale traders and interim rules on regulatory references

2 min read

The Financial Conduct Authority (FCA) has today published the final rules confirming their approach to improving individual accountability for those carrying out wholesale activities, such as algorithmic and high-frequency trading, in banks, building societies, and Prudential Regulation Authority (PRA) designated investment firms. The rules also provide clarity on aspects of the Regime’s territorial application.

These rules form part of the accountability framework introduced by the FCA and the PRA to strengthen individual accountability in the banking sector.

In its statement, the FCA sets out the details of the rules and also provides an overview of key milestones.

The full statement, the Policy Statement and related documents can be found here or see our related earlier post.

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