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UK regulators propose cutting 139,000 annual staff certifications while retaining CEO approvals

The FCA and PRA's proposed Senior Managers and Certification Regime overhaul would reduce administrative checks but preserve individual accountability; some changes still need legislation.

Published 4 Nov 2026News3 min readEvent 22 Oct 2026

Regulation & enforcement

FCA and PRA propose ending annual certification for 139,000 staff

Phase 2 would replace approval with notification for selected senior roles while retaining checks for CEOs, CFOs and chairs; responses close 22 January 2027.

25 Oct 2026News2 min read