The Duty of Responsibility. Every Senior Manager has a Duty of Responsibility under the Financial Services and Markets Act 2000, which means that if a…
SMCR Reasonable Steps Have To Be Evidenced Get an Independent assessment of your steps – Today! What are reasonable steps? The introduction of the…
Reasonable Steps – What Are They? What are reasonable steps? The introduction of the SMCR statutory duty of responsibility (SDR) places the onus on Senior…
For limited scope firms, for which a very limited SMCR regime applies, the FCA has proposed an amendment to clarify that it expects all directors…
The FCA has clarified that various systems and controls functions involving approval beneath the Approved Persons Regime (i.e. as the CF28 function) will be dealt…
Amongst the rules for being an enhanced entity is where a company is a retail intermediary company with earnings of greater than ₤ 35m on…
The FCA has suggested changes to the client dealing function of the certification regime to render it very clear that the function is not…
The FCA has confirmed that it will not require the registration, as an SMF18 or SMF22, of any person with overall responsibility for the Legal…
The Senior Managers and Certification Regime (SMCR) belongs to the UK regulators’ drive to enhance culture, administration and accountability within financial services firms. It tries…