'If we lose sight of the SMCR's fundamental purpose we risk undoing years of progress'
First phase intended to ‘reduce burden’ on firms
'The idea of collaboration comes in the form of knowledge sharing'
Consultation is a part of the Edinburgh Reforms
Alongside a separate joint discussion paper by FCA/PRA
Extended to 31 March 2021 for solo-regulated firms
Incorporating SM&CR into company culture
No blurred lines of responsibility