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ARTICLE · 16 APRIL 2018

Senior Managers And Certification Regime A Step Closer

Mishcon de Reya LLP
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It is well known that the FCA is readying itself to roll-out the Senior Managers and Certification Regime (SMCR) to all authorised firms.

United KingdomFinance and Banking
Mishcon De Reya
Mishcon De Reya

It is well known that the FCA is readying itself to roll-out the Senior Managers and Certification Regime (SMCR) to all authorised firms.

It is well known that the FCA is readying itself to roll-out the Senior Managers and Certification Regime (SMCR) to all authorised firms. The goal of the SMCR reforms is to increase levels of actual and perceived accountability. A version of SMCR has applied to banks since March 2016.

It is expected that a staged roll-out will commence later this year and be completed in 2019. Whilst the final rules are not in effect yet, firms not currently in the SMCR regime should engage now with the prospective changes to ensure that their house is in order. 

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