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Conduct Risk and Financial Stability [22]

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Bullet points include: Promotes longer term harmonisation of regulatory requirements across financial services industry. Now that more than one sector has G-SIFIs we presumably need to think harder about treatment of groups that span sectors (which some studies have suggested may be more important transmitters of systemic risk than single sector players). FSB assessment methodologies for NBNI G-SIFIs are explicitly designed to have some consistency with those for other G-SIFIs. G-SIFI classification may major on capital adequacy but note commonalities in UK’s regulatory regime for senior managers in the banking and the insurance sectors. And planned extension of senior manager regime to other parts of the UK financial services industry including shadow banks

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