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Get ready for the Senior Managers and Certification Regime

The Senior Managers and Certification Regime (SM&CR) to be extended to 47,000 financial services firms is one of the biggest regulatory shake-ups since the economic crash. The proposed rules introduce new responsibilities for firms and senior managers.

Discover the key details of the Financial Conduct Authority’s plans and the early steps you can take to ensure you are fully aware of your personal responsibilities.

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SM&CR: what you need to know

Discover why the Senior Managers and Certification Regime has been extended, and who needs to comply with the rules.

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Key dates

Find out about the timeline for SM&CR implementation.


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How will senior managers be affected?

Some senior managers will have new responsibilities under the SM&CR regulations. Find out the steps your firm will need to take.

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Understand Conduct Rules

Firms are not just required to meet with relevant Conduct Rules. They must also document their compliance and provide conduct training to all staff and most importantly to customer-facing staff.

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Prepare for the Certification Regime

Firms will need to introduce a self-certification scheme to ensure key individuals are fit to carry out their role. Understand what this means in practice.

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How can we help

RSM can offer a number of services to help firms implement the SM&CR regime or review clients SM&CR processes.


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Brexit

Financial services sector

Whether you work to UK or international regulations, RSM's financial services industry experts will guide you through the complex regulatory landscape providing integrated solutions across the sector.

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FCA and PRA regulatory reference rules

From 7 March 2017, the FCA placed a duty on all full scope regulatory reference firms to ensure that certain staff, including contingent workers or volunteers, meet the fit and proper regulatory standard.

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