🖍️ SM&CR briefing
The Senior Managers & Certification Regime (SM&CR) is a set of regulations introduced by the Financial Conduct Authority (FCA) in the UK. It replaces the Approved Persons Regime and applies to all firms authorised by the FCA. The regime aims to improve standards of conduct within financial services firms by making individuals more accountable for their actions and behaviours. The SM&CR requires firms to assess the fitness and propriety of their senior managers on an ongoing basis and to put in place systems and controls to mitigate the risks associated with their roles. A SM&CR briefing would cover the requirements of the regime, how it differs from the Approved Persons Regime, and the implications for firms and their senior managers.
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Brief on SM&CR
The SM&CR is a set of regulations that apply to financial services firms in the UK, replacing the Approved Persons Regime. It introduces new requirements for firms in relation to the management and certification of individuals, making it easier for firms to be held accountable for their actions.
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