What have we learned from the Senior Managers and Certification Regime? | Employment Law Blog

With the Senior Managers and Certification Regime (“SMCR”) due to be extended to all regulated financial services firms in six months’ time (9 December 2019), we reflect on three key learning points from the regime which has already been in place for banks, building societies, credit unions and PRA- designated investment firms since March 2016.  The aim of the SMCR regime is, of course, to improve conduct and accountability in financial services with FCA approval required before senior managers take on new roles and those individuals having to agree statements…