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The Mortgage Alliance: Advisers should prepare for SMCR

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Advisers looking to ensure that their firm is compliant with the upcoming Senior Managers & Certification Regime (SMCR) need to complete any final preparations now, the TMA has warned.

The SMCR will replace the current Approved Persons Regime across the rest of the financial services sector from 9 December.

Lisa Martin, development director at TMA, said: “It is essential that intermediaries get up to speed on the requirements as a matter of urgency. We understand that many firms are feeling daunted by the new regime and still aren’t sure how to prepare for it.

“The best approach to ensuring compliance is to break the changes down into digestible chunks and tackle them one-by-one.”

The expanded scope of the regime will place more responsibility and accountability with senior managers and other individuals working in almost all authorised firms.

SMCRcompliance.com can help you with toolkits to implement the new regulations and adopt appropriate documented policies and procedures, along with required background checks and e-learning.