One of the core purposes of the UK's Certification Regime is to foster high standards of governance, accountability and professionalism. To this end, the BSB has spent the last four years working with member firms to make the implementation of the CR consistent with its precepts.

The high-minded organisation, under the chairmanship of Dame Collette Bowe, a former press officer at the Department for Trade and Industry who acquired a regulatory job at the head of the Persional Investments Authority in the mid-1990s after playing a part in the Westland affair, is arguing that the regulations set a baseline but can only be the starting point for better practice. The newly published guidelines are designed to apply the Financial Conduct Authority's rules in a way that respects both their purpose and spirit. The organisation says that they show the value of collective efforts to raise standards through the pooling of knowledge and expertise.

The Certification Regime - and regulatory references in particular - are the main concern of the "good practice guidance documents," as the BSB calls them.

Statement of Good Practice 1 deals with the Certification Regime and promotes "Fitness and Propriety Assessment Principles." It contains a glossary of terms or 'definitions,' sources of information and an assessment record template, exploring each element of fitness and propriety. There are pass/fail criteria and pointers to help banks deal with risks and problems that may arise. A summary and analysis of the responses that the BSB received in 2017 when it asked its members to comment is included.

Statement of Good Practice 2 also deals with the Certification Regime and covers regulatory references. There are three principles at play here: proportionality, fairness and consistency. Responses to a canvassing of opinion that took place earlier this year are likewise included.