Tag Archives: Senior Managers Regime 2018

What Is The SMCR Implementation Time Scale

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Concerning the SMCR for remaining FCA authorised firms under FSMA Authorisation The largest challenge for the remaining FCA authorised firms under FSMA, who will need to execute changes to obey all components of SMCR is time scale. The larger organisations who will undergo the enhanced regime must not miscalculate the time and energy necessitated to […]

SM&CR Checklist – Senior Managers and Certification Regime

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Senior Managers & Certification Regime – List of Regulatory Terms

List of Regulatory Terms for the FCA Senior Managers & Certification Regime (SM&CR/SMCR) Term Description Ancillary Staff Employees who are not covered by the Conduct Rules, such as cleaners, receptionists, catering staff and security staff. Certification Function A function performed by employees who could pose a risk of significant harm to the firm or its […]

Making Compliance Work: New FCA SMCR Directory Consultation

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Following the extension of the Senior Managers Regime 2018 (SMCR), the change from the current FCA Approved Persons Regimes (APER), the number of individuals on the existing Financial Services Register (“FCA Register”) will dramatically reduce, as only specified Senior Manager roles at regulated and authorised firms will be required to be approved by the FCA and therefore appear on the Register. All regulated firms will in future, be in charge of certifying the suitability, skills, fitness and propriety of their own people to the FCA. Read More …. https://wp.me/p7OMfd-1tZ

Making Compliance Work: The SM & CR For Solo Regulated Firms

So it’s Finally Here – Solo Regulated Firms From the end of 2019 will be under the SM&CR regime. The SM&CR aims to reduce harm to consumers and strengthen market integrity by creating a system that enables firms and regulators to hold people to account. As part of this, the SM&CR aims to: • encourage staff to […]