Paraplanner uncertainty in finalised SM&CR rules

The Senior Managers & Certification Regime (SM&CR) will consist of three tiers: senior managers, certified employees, and then the rest of financial services employees, who will be subject to conduct rules. Senior managers - the most senior people within firms - will come under the most intense regulatory scrutiny, while certified employees (the second tier) will be those who have the potential to harm the firm, its customers or the market. Financial advisers who do not hold senior positions within firms, for example, will be certified employees under the regime. However, in response ...