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ARTICLE · 22 MAY 2023

HMT And Regulators Move Forward With SMCR Review

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These reviews aim to determine whether there are opportunities whereby the SMCR's core objectives can be delivered in a more effective manner...

United StatesFinance and Banking
Ciara McBrien
Ciara McBrien
Neil Robson
Neil Robson
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Following our recent article on the Government's proposed reforms to the Senior Manager and Certification Regime ("SMCR") (available here), HM Treasury (the "HMT") launched a call for evidence ("Call for Evidence"), and the Financial Conduct Authority and the Prudential Regulatory Authority (together, the "Regulators") jointly published a discussion paper ("DP1/23").

These reviews aim to determine whether there are opportunities whereby the SMCR's core objectives can be delivered in a more effective manner, in order to enhance the UK's attractiveness for financial services business, supporting wider Government aims to drive growth across the economy.

The Call for Evidence and DP1/23 both close on 1 June 2023, and are available here and here.

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