2025年3月18日 · The Senior Managers and Certification Regime (SM&CR) aims to reduce harm to consumers and strengthen market integrity by making individuals more accountable for their conduct and competence. See how it applies to your firm.

2025年3月18日 · The SM&CR Guide for FCA solo-regulated firms is a summary of our rules and guidance on SM&CR. It gives an overview of how the SM&CR works for these firms. We have also published guidance to help solo firms with producing Statements of Responsibilities and (for Enhanced firms) Responsibilities Maps.

It provides an overview of how the SM&CR works and what firms need to do under the new regime. For firms that are currently subject to the Approved Persons Regime (APR)1, it also explains how we will move firms and individuals from the APR to the new SM&CR.

2018年12月10日 · SYSC 23.3 Overview of the senior managers and cert... There are three main elements to the regime: conduct rules that apply directly to a firm’s workforce. The table in SYSC 23.3.3G gives more details about each of those three elements. The first two columns of the table apply to all firms.

The FCA describes SM&CR as an opportunity for financial institutes to establish healthy cultures and effective governance by encouraging individual accountability and setting standards for personal conduct. The SM&CR legislation was formed in response to the 2008 banking crisis and significant conduct failings such as the manipulation of LIBOR.

llows a firm to draft a certificate to expire after fewer than 12 months. The FCA interprets the Act in this way because to require a firm to make a certificate last longer than the firm thinks best is likely to make it. harder for the firm to ensure the fitness of its certification employees.

SYSC 23/2 www.handbook.fca.org.uk Release 45 Mar 2025 23.1 Purpose The purpose of this chapter is to: (1) explain what the senior managers and certification regime is and where to find the mainFCA Handbookprovisions; (2) define whichfirmsthe regime applies to; (3) define the different kinds ofSMCR firm; and

2025年2月20日 · HMT has, in parallel, launched a Call for Evidence (CfE) to look at the legislative aspects of the regime. The reviews aim to understand stakeholders’ views on the functioning of the SM&CR and to identify ways to improve the regime to help it work better for firms and regulators, while preserving its underlying aims.

2023年7月2日 · Introduced in the UK from 2016 by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA), the Senior Managers and Certification Regime (SM&CR) is a regulatory framework designed to enhance the accountability and conduct of individuals working in the financial services industry.

Following the application of the Senior Managers and Certification Regime to the banking sector in 2013, from the 9th of December 2019 the SM&CR also became enforceable for all FCA solo- regulated consumer credit firms. The SM&CR replaces the …