The Financial Conduct Authority (FCA) has today unveiled its proposals for the extension of the Senior Managers and Certification Regime (SM&CR) to nearly all regulated firms, including asset managers.
SM&CR currently only applies to deposit takers, but the regulator expects all firms to be covered by the beginning of 2018, essentially replacing the Approved Persons Regime. The FCA proposed five conduct rules that will apply to all financial services staff at FCA-authorised firms enforcing individual accountability for acting "with integrity...
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