UK Mulls Extending Senior Managers' Regime To Exchanges

Law360, London (July 21, 2021, 12:36 PM BST) -- The government wants to hold executives of financial market infrastructure providers accountable in the same way as bank bosses are under a plan to broaden the application of the senior managers and certification regime.

Under the proposals for extending oversight to financial market infrastructures — such as exchanges, depositories, payment systems and central counterparties — the Bank of England would have the powers to fine an individual it believes is guilty of misconduct, HM Treasury said in a consultation paper published on Tuesday.

The central bank would implement and enforce a senior managers regime for the sector. The BoE would determine...

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