As the extension of the Senior Managers and Certification Regime (SM&CR) draws nearer, the FCA has published guidance for firms preparing statements of responsibilities and responsibilities maps. https://www.fca.org.uk/publications/guidance-consultations/gc18-4-senior-managers-and-certification-regime-proposed-guidance-statements-responsibilities-firms https://www.fca.org.uk/publication/guidance-consultation/gc18-04.pdf The guidelines should be applied in a risk-based and proportionate manner, taking in to account the size, nature and complexity of the firm. The guidelines should […]

The Senior Managers and Certification Regime (SMCR) comes into effect in March 2016. For the moment the new regime does only affect banks and PRA authorised investment firms, and it will do three things: Make it much clearer what people are responsible for People who carry out a significant harm function within the bank will […]