The FCA and PRA are consulting on proposals to include specific disclosures in employment references for candidates applying for:
- Senior management functions under the Senior Managers Regime.
- Significant harm functions under the Certification Regime.
- PRA senior insurance management functions under the Senior Insurance Managers Regime.
- FCA insurance controlled functions.
- Notified non-executive director roles within a Relevant Authorised Person or Solvency ll firm.
- Non-executive director roles in credit unions.
- Key function holders and notified non-executive director roles.
The FCA and PRA are asking for comments by 7 December 2015. The FCA and PRA will then consider the feedback and publish the rules in early 2016, ahead of the start of the new accountability regime on 7 March 2016.