It seeks to:
Develop a culture of accountability at all levels.
Ensure that firms have the right people in the right roles.
Make it easier for the regulator to work out who is responsible if something goes wrong.
SM&CR, everything you need to know
Early in 2020, amidst the impact of Covid-19, the FCA made an announcement to extend the deadline for the first assessment of Fit and Proper under SM&CR from 9 December 2020 to 31 March 2021.
As we approach this deadline, we want to offer you a little extra support from our team of leading compliance experts. Your firm will need to ensure that a certificate has been issued to all existing staff that fall within the Certification Regime. Whilst this task may not seem a large undertaking, it can only be complete once staff that fall under the Certification Regime have been assessed as fit and proper.
You may well have completed this as part of the first deadline issued by the FCA in December – if this is not the case, this is where SimplyBiz are here to help.
How we’re helping firms
At SimplyBiz we have provided significant support to our Members to ensure the smooth and all-encompassing transition of our Members firms.
This support, like the Regime itself, is ongoing and we want to share with you some of the unique and personalised support tools we provide to our clients to help them meet the FCA’s ongoing regulatory requirements.