Regulators sought to clarify responsibilities of financial chairmen and directors
UK regulators the Financial Conduct
Authority and Prudential Regulation Authority have sought to
clarify the obligations of chairmen, directors and committee
chairs when sitting in those positions at financial firms.
The regulators said chairmen, senior
independent directors and chairs of risk, audit, remuneration
and nomination committees will fall under their Senior Managers
Regime but some non-executive directors will fall outside of
the SMR’s scope.
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