SM&CR

This article argues that having a compliance advocate at board level is not just a token gesture to satisfy regulators, but a strategic necessity.

What happens when compliance is absent or ignored in the boardroom? In short, regulatory blind spots multiply and the risks – both to customers and the firm – escalate.

Giving compliance a seat at the board table is about baking in long-term resilience. It’s about making your business stronger and more sustainable.

Lloyd’s of London has announced it is consulting on changing its by-laws to combat misconduct in the commercial insurance market in a continuing battle to dispel its long-standing reputation for sexual harassment and inappropriate behaviour by market participants.

Amidst increased scrutiny surrounding how firms within the financial services deal with non-financial misconduct, this article explores how firms can reasonably ensure policies and procedures comply with SM&CR and demonstrate a culture of transparency, accountability, and integrity.

Diversity and inclusion are central to firms’ roles as businesses and employers. The regulators have been taking increasing steps to enhance diversity and inclusion within the financial sector. What can small businesses do to improve measures for diversity and inclusion?

The Financial Conduct Authority has launched a review into the Senior Managers and Certification Regime (SMCR) and has opened a consultation where firms can submit feedback to help identify potential changes.

A recent Supreme Court hearing has highlighted the importance of properly verifying a candidate’s qualifications and suitability for a post. Are you aware of the requirements for regulatory referencing under SM&CR?

Our Development Zone Course of the Month for April is ‘SM&CR – Individual Conduct Rules’. The Conduct Rules set out the basic standards of personal conduct that individuals working in financial services are expected to abide by and apply to almost all staff who carry out financial services roles within a firm.