Regulatory Alerts2019-03-29
PS19/9: Applying the Senior Managers and Certification Regime to Claims Management Companies
The UK Financial Conduct Authority issues this policy statement to apply the Senior Managers and Certification Regime to Claims Management Companies starting in April 2019. The rules mandate individual accountability through Senior Management Functions, fitness assessments for certification staff, and adherence to conduct standards to protect consumers from misconduct. While most firms are classified as Limited Scope, the regime requires specific approvals and governance structures to ensure high standards of professionalism and operational integrity.
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