Survival of the fittest: Certification regime under the spotlight

The concept that staff should be fit and proper to carry on the role they are employed to do is one of the fundamental pillars upon which regulation has been built.  Without it, there is a real risk to both consumers and the integrity of the UK financial system.  Over the past five years, this requirement has been embedded into firms' practices via the Senior Managers & Certification Regime (SM&CR).  Anyone within a firm who is performing a senior manager function, a certification function or the role of a non-executive director, will be subject to specific fit and proper rules. ...