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ARTICLE · 08 AUGUST 2019

FIG Bulletin, 2 August 2019

Hogan Lovells
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Following the publication of a commencement order, reported in the FIG Bulletin last week, the Financial Conduct Authority (FCA) has now published its final rules on the extension

European UnionGovernment, Public Sector
Hogan Lovells
Hogan Lovells

General: UK

SMCR: FCA PS19/20 - final rules and feedback to CP19/4

Following the publication of a commencement order, reported in the FIG Bulletin last week, the Financial Conduct Authority (FCA) has now published its final rules on the extension of the senior managers and certification regime (SMCR). The FCA made near-final rules on the SMCR in July 2018 (PS18/14) and consulted on some refinement to those rules in January 2019 (CP19/4). The latest policy statement (PS19/20) summarises the feedback it received to CP19/4, the FCA response to the feedback, and sets out its final rules. The final rules may still be amended by subsequent Handbook changes, for example those relating to the UK's exit from the EU.

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