The Senior Managers & Certification Regime (SM&CR) is likely to create more day-to-day work for advice firms than MiFID II, Rory Percival has warned.
The former Financial Conduct Authority (FCA) technical specialist-turned consultant Percival (pictured) was discussing the key regulatory matters facing advisers over the coming year on the SimplyBiz Group ‘Advice Show'. According to Percival, the FCA's SM&CR consultation paper, published last July, was much more "accessible" than most regulation papers. In the consultation, the regulator proposed widening out the 2016 senior manager's regime, meaning financial advisers would be "certified" employees if they did not fill the role of a "senior manager" in a firm. Find out more about or...
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