The FCA should publish detailed guidance on how firms handle harassment and sexual misconduct before the regulator considers enforcement under the upcoming SM&CR, a law firm has urged.
The Senior Managers & Certification Regime (SMCR) will apply to asset managers from 9 December 2019, placing upon the sector fresh administrative, regulatory and conduct requirements that banks and other large financial institutions have been subject to since 2016. The regulation aims to reduce harm to consumers and strengthen market integrity by making individuals more accountable for their conduct, while encouraging a culture of personal responsibility throughout businesses. Asset and wealth managers will soon face potentially unlimited fines if they fail to meet the new standards. ...
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