BSB consults on good practice guidance on regulatory references
Industry News | 31/01/19
The Banking Standards Board (BSB) is consulting on its proposed good practice guidance on regulatory references, this is a key part of the senior managers and certification regime (SM&CR). The guidance outlines three high-level principles which consider both the ‘providing’ and ‘receiving’ ends of the process, and state that regulatory reference practices and policies should be: fair to the individuals about whom they are written without compromising the integrity of the reference, proportionate in relation to other firms and individuals when fulfilling regulatory reference requirements and consistent in the way that individuals are treated by firms providing and receiving references. The consultation will run for seven weeks until 20 March 2019.