News Story

FCA consults on the Senior Managers and Certification Regime (SM&CR)

Release Date: 
16/10/2018

The FCA is consulting on guidance which aims to provide practical assistance to firms preparing Statements of Responsibilities and Responsibilities Maps as part of the transition to the new SM&CR.

The proposed guidance builds on the information the FCA published in the Guides to the SM&CR for solo-regulated firms which aims to help all FCA-regulated firms to clearly set out senior managers’ Statements of Responsibilities.

‘Enhanced’ firms will also be able to use it to produce Responsibilities Maps which show how their firm is managed and governed.

The consultation, which closes on 10 December, can be read in full on the FCA website

Members can direct comments or feedback to BVRLA Operations Manager, Amanda Brandon