General
SMCR and Benchmark Administrators: FCA update
The UK Financial Conduct Authority (FCA) has published an update
relating to the extension of the senior managers and certification
regime (SMCR) to FCA solo-regulated firms.
The SMCR is due to be extended to FCA solo-regulated firms from
9 December 2019.
However, the FCA reminds firms that, on 9 December 2019, the
SMCR will not apply to:
- benchmark administrators, pending a consultation dedicated
specifically to benchmark administrators; and
- claims management companies, until they have been authorised by
the FCA.
For further information, see our update: FCA issues senior
managers and certification regime update.
