Challenges seen as UK regulators expand accountability rules

Insurers and intermediaries face upheaval as the UK's
financial regulators prepare to roll out conduct and accountability
rules originally devised for bankers in the aftermath of the
financial crisis.
The Financial Conduct Authority (FCA) and Prudential Regulation
Authority (PRA) last week launched coordinated consultations about
the introduction of the Senior Managers and Certification Regime
(SM&CR) for most financial services companies under their
auspices.
The SM&CR will impose signi