Model Office tailors practical SM&CR guides by type of firm

SM&CR, which replaces the Approved Persons Regime from December 2019, is a root and branch review of standards within every Financial Conduct Authority (FCA) regulated firm to ensure they have "the right people in the right roles with the right skills," explained Model Office. "Affected firms need to apply a broad framework to all business activities that sets minimum standards for conduct and behaviour for all key staff members," it added. SM&CR's specific requirements vary according to a firm's size and activity, with the FCA identifying three types of firm. The Model Office guides cov...