Senior Managers & Certification Regime

The Senior Managers & Certification Regime (SM&CR) has been designed to improve public confidence in financial services and build trust with consumers.

It seeks to:

1

Develop a culture of accountability at all levels.

2

Ensure that firms have the right people in the right roles.

3

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.

The Advice Show December 2020 - Regulatory round-up

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.

SM&CR Guides

Written by our expert policy team, our documentation provides a wealth of information on all aspects of the Regime, and the teams managing the supporting services are well placed to be able to offer support across all firm types and scenarios. We have designed two supporting guides to assist firms in accurately implementing the requirements of the Regime.

 

Our Guide to The Directory is designed to help firms understand what the Directory is, how to comply with the new requirements, what data must be uploaded and ongoing responsibilities. In this publication, we refer to your responsibilities, if any, to updating the new FCA Directory.

If you'd like to receive a complimentary copy of this guide, simply submit your request below.

Request your complimentary copy of our Guide to The Directory

Our SM&CR Guide pulls together the four parts of the original SM&CR Guide issued prior to the implementation date of 9th December 2019. Its purpose is to help you understand your responsibilities under the Senior Managers & Certification Regime through practical guidance.

If you'd like to receive a complimentary copy of this guide, simply submit your request below.

Request your complimentary copy of our SM&CR Guide

If you would like to learn more about how our team can support your proposition, then contact us today on 01484 439128. Alternatively, fill in this form here and a member of our team will get in touch with you.

Helpdesk support

We also be offer SM&CR guidance via our specialist helpdesk service. Whatever your query, our experts are on-hand to provide detailed guidance.

Of course, our compliance helpdesk will also provide guidance on GABRIEL, financial promotions, disclosure documentation and a wide range of other areas, with our dedicated pension technical team on hand to provide specialist advice on all HMRC, DWP and FCA aspects of related issues.

 

Get in touch

For more information about our Senior Managers & Certification Regime support or any of our services, please complete the form below or call 01484 439 128.

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