Mark Greenwood: Putting the fun in SM&CR functions

clock • 4 min read

In the latest of his articles on the realities of the Senior Managers & Certification Regime (SM&CR), Mark Greenwood looks at the mechanics of changing roles and Senior Manager functions under the new regime now it is in place…

It has rarely - if ever - been said that compliance suffers from a lack of acronyms. However, I've decided to introduce a few more in this article by taking a look at the HR within SM&CR.  And, I warn you in advance, this is where it starts to get really exciting! I'll begin by defining what, in the context of SM&CR, the difference is between a new hire and a change of role.  When an existing Senior Manager is moving between two FCA authorised firms (that are not part of the same group), this is considered to be a new hire, even where similar duties will be carried out.  Where a perso...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Targeted support regime welcome but rules need 'adjustments'

Targeted support regime welcome but rules need 'adjustments'

Advisers, providers and trade bodies call for clarity as consultation closes

Sahar Nazir
clock 29 August 2025 • 4 min read
SMCR reform needs efficiency without sacrificing accountability

SMCR reform needs efficiency without sacrificing accountability

'If we lose sight of the SMCR's fundamental purpose we risk undoing years of progress'

Shaun Hurst
clock 28 August 2025 • 4 min read
FCA impersonation scam reports hit almost 5,000 in six months

FCA impersonation scam reports hit almost 5,000 in six months

480 victims defrauded

Cristian Angeloni
clock 27 August 2025 • 1 min read