2017年-FCA英国金融行为监管局_regulatory_reference_final_rules_4页_130kb

报告摘要

Regulator Assessment Summary: PS16/22 – Strengthening Accountability in Banking and Insurance

Core Content

The document outlines the regulatory assessment of the proposed changes introduced by the FCA and PRA in PS16/22: Strengthening accountability in banking and insurance: regulatory reference final rules. These rules are part of the broader individual accountability regime for banks, insurers, building societies, and credit unions, which was introduced in March 2016. The changes aim to enhance transparency, prevent the 'recycling' of individuals with poor conduct records, and ensure that firms have access to comprehensive and accurate information when assessing potential recruits.

Main Changes

The key changes proposed under PS16/22 include:

Extended reference period: From 5 to 6 years for regulatory references.
Mandatory update of references: If new material information arises, firms must update references.
Standardized reference template: A common format for regulatory references to ensure consistency and clarity.
Disciplinary information disclosure: Firms must disclose disciplinary actions related to Conduct Rule breaches within the past 6 years, and serious misconduct beyond that period.
Prohibition on limiting disclosure: Firms must not enter into agreements that restrict their ability to disclose relevant information.

Key Information

Lead regulator: Financial Conduct Authority (FCA)
Date of assessment: 28 September 2016
Commencement date: 7 March 2017
Scope: Applies to the whole of the UK
Business affected: Primarily deposit takers and insurers, with some impact on other firm types.
Estimated number of affected firms:
- All relevant information (including disciplinary actions): Approximately 55,000 firms
- Other changes (e.g. extended reference period, template): Approximately 2,000 firms

Impact on Business

Cost Estimates

Change	Estimated Cost per Year
Additional reference period (5 to 6 years)	£120,000
Reference updates (1% of approved persons)	£40,000
Template implementation (12,600 references)	£700,000

Total estimated annual cost: £860,000

Additional references (6 years): Based on an estimated 2,100 additional references per year, with each reference costing £57, the annual cost is £120,000.
Reference updates: Assuming 700 updates per year, with each update costing £57, the annual cost is £40,000.
Template implementation: With 12,600 references using the template annually, and each taking an hour at £57, the cost is £700,000.

Benefits

Enhanced accountability: The new rules ensure that firms have access to more comprehensive information about potential appointees, improving the quality of due diligence.
Prevention of misconduct recycling: By requiring disclosure of disciplinary actions and serious misconduct, the rules aim to prevent individuals with poor conduct records from moving between firms.
Standardization: The use of a standardized template promotes consistency and clarity in the reference process across firms.

BIT Score and Net Present Value

Price Base Year	Implementation Date	Duration of Policy (years)	Business Net Present Value	Net Cost to Business (EANDCB)	BIT Score
2016	2017	10	-3.6	0.4	2.0

The BIT score of 2.0 indicates a moderate impact on business.
The Net cost to business is estimated at £0.4 million.
The Net Present Value (NPV) is -£3.6 million, suggesting a net cost over the 10-year policy duration.

Additional Information for Validation

The rules are based on the Financial Services (Banking Reform) Act 2013 and the Fair and Effective Market Review (FEMR) recommendations.
The FCA and PRA issued a joint consultation on the rules in October 2015, which was followed by the final rules in PS16/22.
Cost estimates are derived from the CP14/13 Cost-Benefit Analysis (CBA) and related publications.