The Senior Managers and Certification Regime (SMCR) replaced the Approved Persons Regime for all FCA registered firms on 9 December 2019.
It marks a significant shift in the way that the UK regulators supervise and monitor the activities of individuals that work in the financial services sector.
Our offering is created by compliance experts who advise firms on their regulatory obligations on a daily basis, so we are best placed to understand the regulatory needs of firms and how SMCR impacts them.
We have created our toolkits and CPD accredited online training courses to ensure that implementation can be carried out swiftly and effectively, while making sure that it is appropriate depending on a firm's classification.
If you are unsure what category your firm is please contact us or use our helpful diagram from the FCA
SMCR – also known as SM&CR - refers to the Senior Managers and Certification Regime.
SMCR represents a significant shift in the way that the UK regulators supervise and monitor the activities of individuals that work in the financial services sector and/or conduct financial services related activities.
In particular, the UK regulators have an ambition to improve ‘cultural behaviour’ at regulated firms and SMCR is a key component in this. SMCR affects almost everyone that works within financial services.
The SMCR is part of the UK regulators' drive to improve culture, governance and accountability within financial services firms. It aims to deter misconduct by improving individual accountability and awareness of conduct issues across firms.
SMCR applies to a majority of individuals that work in the UK financial services industry, or work for a firm providing financial services, including some individuals that are based overseas.
We use our expert knowledge to ensure
that our solutions are the right fit for your firm.
At Robert Quinn we have used our extensive regulatory compliance expertise to put together bespoke packages based on the type of firm that you are, which will ensure that you are fully compliant with the new SMCR regime.
We have created specific e-Learning courses, which will ensure that you meet your cross-firm training obligations and your new ongoing annual training obligations.