On 9 July 2014, an Order was made and published which will bring into effect, on 25 July 2014, certain provisions of the Financial Services (Banking Reform) Act 2013 relating to the conduct of persons working in the financial services sector. The Order paves the way for the PRA and FCA to consult on rules and statements of policy on the regulation of senior management, the certification of certain employees of financial institutions, the applicability of rules of conduct to all employees of financial institutions and the extension of the limitation period for imposing sanctions. The regulators are expected to consult on these issues before the end of 2014.

The Order is available at:

http://www.legislation.gov.uk/uksi/2014/1819/pdfs/uksi_20141819_en.pdf.