The Financial Conduct Authority (FCA) has indicated that
it intends to increase its supervisory focus on the application of
the senior managers and certification regime (SMCR) conduct
rules.
The FCA has published the findings of a review into how successfully the
SMCR is embedded into the banking sector.
The results of this review will be of interest to firms in the
banking sector as well as all other financial services firms to
which the regime applies or will apply from 9 December 2019.
What does this mean?
The purpose of the review was for the FCA to understand whether
there are any issues that warrant more focus from firms and the
FCA. The FCA indicates that it will increase its supervisory focus
on the conduct rules.
