l FCA Issues SMCR Reminder to Firms | SMCR Compliance

FCA issues SMCR reminder to firms

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The Financial Conduct Authority is issuing a reminder to FCA-authorised firms that they need to start preparing to be ready for the new regime coming into effect on 9 December 2019.

The FCA has already rolled out SMCR to banks and insurance firms, and is extending the regime to the 47,000 firms it regulates.

The aim of SMCR, the regulator says, is to ‘establish healthy cultures and effective governance in firms by encouraging greater individual accountability and establishing a new standard of personal conduct’.