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UK PRA loosens supervision of small firms’ managers in final accountability rule

( March 23, 2015, 13:31 GMT | Official Statement) -- MLex Summary: The Prudential Regulation Authority will demand less scrutiny of top managers at financial companies that have total gross assets of 250 million pounds or less, within the UK supervisor's final rules to tighten oversight of senior positions. The easing of requirements compared to the proposal was a response to UK building societies and credit unions, which had called it unjust to expect the same level of supervision for smaller firms as is expected of larger ones.The following text is a statement. The policy statement can be found in the attachment below the text....

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