Thematic Pillar Hub · 1 Published Briefings

Supervision

Supervision institutional intelligence, quantitative benchmarks, primary regulatory filings, and market structure analysis from RegTech Codex. The UK conduct regime is in a consultation, not a repeal. The 22 October proposals take pre-approval off some roles and leave it on the jobs that run the firm.

Curated by Victoria Ashworth, LL.M, CAMS (LL.M in Financial Regulation (UCL), Certified Anti-Money Laundering Specialist) · Fact-checked by RegTech Codex Institutional Review Board

Key Institutional Takeaways — Supervision

The PRA and FCA opened parallel SM&CR consultations on 22 October 2026. Comments run to 22 January, and policy is expected in 2027. Some changes need legislation.
Pre-approval would be removed for roles including chief actuaries and the chairs of risk and audit committees. CEOs, CFOs and chairs would still need it.
The certification regime would be removed for about 139,000 people below senior-manager level. The Bank of England put the expected saving at about £2 billion over 10 years.

All Supervision Research Briefings (1)

2026-10-26Victoria Ashworth, LL.M, CAMS

The PRA and FCA want fewer pre-approvals. CEOs, CFOs and chairs would still need one.

The UK conduct regime is in a consultation, not a repeal. The 22 October proposals take pre-approval off some roles and leave it on the jobs that run the firm.

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Frequently Asked Questions — Supervision

Is the Senior Managers Regime being abolished?

No. The Bank of England said individual accountability and conduct standards stay, including for people who would no longer need pre-approval. The consultation removes process, not the duty.

When could this start?

The consultations close on 22 January. Policy is expected in 2027. The Bank of England said some reforms need legislation, and that consulting now lets the regulators move once Parliament has acted.

What happened already in April 2026?

The Bank of England described this as phase two. April’s changes lengthened timelines for unexpected senior-manager absences, removed duplicate certification where functions overlap, and raised enhanced-firm thresholds by 30%.

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