In the latest of this series of articles on the upcoming Senior Managers and Certification Regime, Mark Greenwood takes an in-depth look at the new fitness and propriety requirements
You will no doubt be aware that the implementation date of the Senior Managers and Certification Regime (SM&CR) for solo-regulated firms is 9 December 2019. Fitness and Propriety is a key area under SM&CR and the regime requires firms to evidence how they have established that an individual is fit and proper to carry out a Senior Management or Certified function. In a nutshell, the Fit and Proper requirement (FIT) in the regime is designed to reinforce the FCA's message that firms need to take responsibility for having the appropriate people in the right roles. SM&CR introduces a bre...
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