28 posts categorised "Senior managers regime"
15 November 2019 Turning the SM&CR into an opportunity for solo regulated firms By Grant Lee and Ann-Marie Stone In less than a month’s time, on 9 December 2019, the Senior Managers & Certification Regime (SM&CR) comes into...
22 October 2019 When an anniversary is actually a deadline: insurers’ final transition to SM&CR While 10 December 2019 marks the first anniversary of the SM&CR for insurers, it is easy to forget that it is also a deadline. As the senior manager element beds down, one year on insurers must also have concluded the assessment process for Certified Persons, and provided training in the conduct rules to all remaining staff.
05 September 2019 Insurers and the SM&CR: Lessons from the banking stocktake report As the December deadline approaches for insurers to finish certification under SM&CR, the FCA’s stocktake report on how banks have embedded the regime gives insurers the opportunity to learn from its conclusions. Any issues identified by the FCA in the banks will read across to other sectors.
25 June 2019 Senior Managers and Certification Regime – accountability and opportunity It came as no surprise to anyone that once again governance and culture featured prominently as a cross sector priority in the Financial Conduct Authority’s (FCA) 2019/20 business plan. A key hammer to crack this particular nut will be the extension of the Senior Managers and Certification Regime (SMCR), which currently covers banks and insurers but will capture all regulated firms from the fixed implementation deadline of 9 December 2019. But firms should not consider this in isolation, or as a ‘one off’ exercise - the governance and culture agenda continues to be an ongoing, permanent fixture of FCA supervisory focus and will likely be fertile ground for enforcement cases if current trends continue.
04 April 2018 What’s next for the FCA’s culture agenda? By Sarah Isted and Tessa Norman The Financial Conduct Authority’s (FCA) recent discussion paper on culture is the regulator’s first tangible output on the topic...
15 March 2018 Preparing for SM&CR: the road ahead for consumer credit firms and insurance brokers By John Coley and Sarah Nield Following the FCA’s December technical paper on extending the Senior Managers & Certification Regime (SM&CR), firms may have hit...
20 December 2017 When one SM&CR delay can lead to another By Grant Lee The Financial Conduct Authority (FCA) and Prudential Regulation Authority’s (PRA) long-awaited technical consultations, to put more flesh on the bones of July’s...
20 November 2017 Senior Managers Regime: Reasonable steps - testing the outcomes By Grant Lee and Andrew Strange A key tenet of the Senior Managers Regime (SMR) is the duty of responsibility placed on Senior Managers (SM)....
25 October 2017 What will the SM&CR mean for consumer credit firms? Senior Managers & Certification Regime (SM&CR)
24 October 2017 Grandfathering into the Senior Managers Regime – more than just a technical exercise By Grant Lee and Andrew Strange Most firms I speak to have now broadly absorbed the proposals in the Financial Conduct Authority’s (FCA) consultation on...
13 September 2017 Client Asset oversight … when one becomes two By James Steele-Perkins and Rob Anderson The Financial Conduct Authority (FCA) recently consulted to extend the Senior Managers and Certification Regime (SM&CR) to all sole...
06 September 2017 Learning the lessons from the Senior Managers Regime By Sarah Isted Over recent weeks, I've been asked by a range of clients and colleagues about the lessons learned from the introduction of the...
10 August 2017 Joining the dots in asset management: SMR and the market study The Financial Conduct Authority’s (FCA) Asset Management Market Study and the extension of the Senior Managers Regime (SMR) to all FCA regulated firms - while both topics are separately initiated, increasingly the interlinkages make considering either in isolation challenging for firms.
03 August 2017 Senior Managers and Certification Regime: Be prepared The proposals to extend the Senior Managers and Certification Regime (SM&CR) to all firms regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), will affect around 50,000 firms. Business preparations should start now.
19 April 2017 What can we learn from the FCA’s business plan? Sarah Isted The Financial Conduct Authority (FCA) has set out its priorities and agenda for 2017/18 in its annual business plan. The regulator continues a...
04 April 2017 The impact of the Chief Data Officer being brought into the Senior Managers Regime By Nick.Bouch and Sarah Isted At the first anniversary of the Senior Managers Regime (SMR), many firms are reflecting on their population of Senior Managers....
01 February 2017 Financial Services Mis-selling: Minimising Risk If we are to restore the integrity of the global financial services sector steps need to be taken by firms to minimise the risk of mis-selling.
01 February 2017 FCA Asset Management Market Study: Governance to drive value? By Amanda Rowland and Caroline Berryman While we believe that asset managers act as a ‘good agent’, mitigating conflicts of interests and contributing to better...
08 September 2016 Six months in - what has changed with the introduction of the Senior Managers Regime The Senior Managers Regime has now been live for six months. Has it made a significant difference to the way in which people are working or how the Regulators are supervising? It is perhaps too early to have a definitive answer to those questions, but it is clear from talking to senior managers that it is changing the way in which they think about their responsibilities and the reasonableness of their day to day actions. The question many will now be asking is 'will my preparations continue to be sufficient?'
09 May 2016 Culture and the Senior Managers Regime - a virtuous circle? A review of the FCA's focus on culture in its recently published business plan and the role of the Senior Managers Regime in helping banks explore governance, accountability and drive cultural change.
07 March 2016 The Senior Managers Regime is here - what was all the fuss about? By Sarah Isted The Senior Managers Regime went live this morning. It has been a date etched on many people's minds for some time. So,...
29 February 2016 Dealing with the fear factor - Senior Managers & Certification Regime By Jessica Leitch, John Ellis-Johnson and Mark Dawson Very few businesses and sectors can honestly claim to have a culture where employees aren’t at all...
08 February 2016 The Senior Managers Regime's grandfathering deadline is here - can you afford to breathe a sigh of relief? By Sarah Isted If you are in one of the many firms that have been working hard over the last few weeks to iron out...
03 February 2016 It’s all about people - Senior Managers & Certification Regime By Jessica Leitch, Emily Murphy and Davy Price-Stephens Financial services firms will be working hard at the moment to get over the finishing line for...
- Andrew Gray
- Ann-Marie Stone
- Asset Management market study
- Be fearless
- Brian Polk
- Conduct and culture
- Conor MacManus
- Daniel de Búrca
- Financial crime
- Financial Participation
- Grant Lee
- IFRS 17
- MiFID II
- Operational Resilience
- Risk strategy
- Sarah Isted
- Senior Managers & Certification Regime (SM&CR)
- Senior managers regime
- Simon Chard
- Solvency II