Published date: 8 April 2019

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 8 January 2019

Contract summary

Industry

  • Business and management consultancy and related services - 79400000

Location of contract

London

Value of contract

£0 to £100,000

Procurement reference

CON-18-202

Published date

8 April 2019

Closing date

8 January 2019

Contract start date

28 January 2019

Contract end date

31 March 2019

Contract type

Service contract

Procedure type

Call-off from a framework agreement

A mini-competition or direct purchase from a pre-established framework agreement.

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

The Senior Managers and Certification Regime (SM&CR) replaced the Approved Persons Regime (APR) for banks, building societies, credit unions and dual-regulated investment firms in March 2016. The SM&CR was created by legislation, based on the recommendations of the Parliamentary Commission on Banking Standards (PCBS).
In 2017, we conducted a stocktake of the implementation of SM&CR in the banking sector. This was relatively light and relied on information available internally. The results were generally positive but it was recognised at the time that it was still relatively soon after implementation, with the last deadlines having only recently been passed.
There has now been sufficient time for the regime to embed in firms and for any initial issues to have been overcome. We now want to undertake a further stocktake that will seek to provide more insight into how well the regime works in the banking sector. This will give the FCA the ability to consider corrective action if needed, give messages back to the industry and help guide the implementation of the SM&CR for other firms.
The proposed work aims to assess the success of the SM&CR in the banking sector (including banks, building societies and dual-regulated investment firms). It will focus on the embedding of the regime in the industry.

Award information

Awarded date

18 January 2019

Contract start date

28 January 2019

Contract end date

31 March 2019

Total value of contract

£90,000

This contract was awarded to 1 supplier.

BARINGA PARTNERS LLP

Address

Dominican Court, 17 Hatfields, London, SE1 8DJ

Reference

None

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

12 Endeavour Square
LONDON
E201JN
England

Email

fpsprocurement@fca.org.uk