Select Committee publishes letters on SMR: The Treasury Select Committee has published letters from Martin Wheatley and Andrew Bailey to its chair, Andrew Tyrie. The letters acknowledge the importance of ensuring senior managers under the new senior manager regime (SMR) are fit and proper and explain how the grandfathering of existing approved persons into the new regime will operate. (Source: FCA Writes to Select Committee and PRA Writes to Select Committee)

FCA writes to Treasury Committee on IRHPs: Martin Wheatley wrote to Andrew Tyrie answering questions the Treasury Committee had asked about the Interest Rate Hedging Product (IRHP) review. The response includes information on the fairness of the review and the role of the independent reviewer. (Source: FCA Writes to Treasury Committee on IRHPs)