28 posts categorised "Senior managers regime"

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.