Regulatory Alerts2017-07-21
Added · Updated
PS18/14: Extending the Senior Managers and Certification Regime to FCA firms
The near-final rules extend the Senior Managers & Certification Regime (SM&CR) to all Financial Conduct Authority solo-regulated firms, replacing the Approved Persons Regime. The regime applies differently based on firm classification: Limited Scope, Core, or Enhanced, with specific Senior Management Functions and Prescribed Responsibilities allocated accordingly. Implementation is scheduled for 9 December 2019, subject to commencement regulations by HM Treasury.
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