Ash was Managing Director at RWA from 2018. He had over 15 years’ experience in the legal and compliance field and ten years in broker sales and leadership roles in national and global insurance firms. Sadly, Ash passed away suddenly in August 2021.
FCA Publishes Final Rules on Senior Managers and Certification Regime (SM&CR)
The FCA has published its final rules regarding the extension of the Senior Managers and Certification Regime (SM&CR) to FCA solo-regulated firms from 9th December 2019.
In a policy statement, the regulator summarises and responds to the feedback received from its consultation in January 2019.
The proposed changes to the regime, which were consulted on, include:
- confirming that the Head of Legal function is excluded from the requirement to be approved as a Senior Manager
- clarifying the requirements and scope of the Certification Regime
- extending Senior Manager Conduct Rule 4 (SC4) to non-approved Executive Directors at Limited Scope firms
Click here to read the FCA’s full policy statement.
SM&CR aims to increase individual accountability in the financial services industry and introduces major changes to the regulation of people working within the financial services sector. As the implementation date draws closer, if you think you need any help preparing for SM&CR, please get in touch.