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.
The extension of SMCR will apply to all FCA solo-regulated firms and replace the current FCA Approved Persons Regime for them. The consultation will close on 03 November 2017, with the final rules being 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.
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.
SMCR - Extension toolkit
We are currently in the process of developing a toolkit to help firms progress implementation of SMCR in a cost effective way. If you would like any further information on this toolkit please contact us.
Regulated people: culture and conduct
Employing people in a regulated world can be complex. We have a suite of tools and information available to help you manage the regulatory requirements.
Find out more