Senior Managers and Certification Regime Extension

The Financial Conduct Authority (FCA) published its consultation paper (CP17/25) on extending the Senior Managers and Certification Regime (SMCR) to all FCA solo-regulated firms on 26 July 2017.

Having discussed the consultation paper with clients and contacts across the industry, we have now submitted our response to the FCA and the consultation has closed. Details of our response are available here.

The extension of SMCR will apply to all FCA solo regulated firms and replace the current FCA Approved Persons Regime for them. The final rules are expected to be published in a Policy Statement in Summer 2018. We expect a phased implementation of the regime from late 2018.

This microsite relates to the new regime as it affects wider financial services firms. There is a slightly different regime for insurers on which the FCA and PRA are consulting. Please see here for more details.

Our specialist team has developed the SMCR Extension Toolkit in response to client demand for cost-effective, practical and user-friendly templates and guidance on how to comply with the extension of the Senior Managers and Certification Regime to all FCA regulated firms. Designed to meet the needs of Management, Compliance, HR and Legal, the Toolkit is now available here.

New financial services regulatory regime


This document (and any information accessed through links in this document) is provided for information purposes only and does not constitute legal advice. Professional legal advice should be obtained before taking or refraining from any action as a result of the contents of this document.