Mark Greenwood: A final checklist for the SM&CR

Staff are your responsibility

clock • 4 min read

With the number of days left until the implementation of the Senior Managers and Certification Regime (SM&CR) nearing single figures, SimplyBiz Group's Mark Greenwood, rounds up everything that advice firms should have considered

Firstly, there has been so much noise around what you need to do to be ready for SM&CR, I thought it might be worth taking a quick look back at why the regulator introduced the new regime in the first place.   The aim of the SM&CR is to reduce harm to consumers and strengthen market integrity by creating a system that enables both firms and regulators to hold people to account. In order to achieve these objectives, SM&CR aims to: encourage staff to take personal responsibility for their actions improve conduct at all levels ensure firms and staff clearly understand, and can demo...

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

FCA's Rathi: Fair value is not 'Trojan horse' for price regulation

FCA's Rathi: Fair value is not 'Trojan horse' for price regulation

'Move away from prescriptive rules, beloved of compliance consultants’

Jenna Brown
clock 14 March 2024 • 4 min read
When it comes to FSCS levies, it's time to have our voices heard

When it comes to FSCS levies, it's time to have our voices heard

'This is no time to sit on the sidelines and wait for a good result'

John Netting
clock 12 March 2024 • 5 min read
FCA puts focus on WealthTek criminal investigation

FCA puts focus on WealthTek criminal investigation

Regulator secured 12-month pause on civil action

Jenna Brown
clock 04 March 2024 • 2 min read