Shaun Hurst shares his views on the FCA's reform of the SMCR. Here he urges firms not to wait for regulatory minimums to define governance standards...
The Financial Conduct Authority's (FCA) plan to streamline the Senior Managers and Certification Regime (SMCR) has been penned as a way to reduce unnecessary friction in regulatory compliance. The first phase of the initiative, which focuses on simplifying documentation and removing redundant approvals, could genuinely make life easier for firms without diminishing the regime's protective function. Done well, it offers an opportunity to free up valuable resources, letting firms focus on serving customers rather than wrestling with paperwork. While Phase 1 shows promise, Phase 2 is wh...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
