Smcr Introduction

Overview

In December 2019, the Senior Managers and Certification Regime (SM&CR) was extended to cover all FCA-authorised firms, replacing the previous Approved Persons Regime for these firms.

The crux of the SM&CR is that it creates a regime that enables firms and regulators to hold people to account – particularly the senior management tier and those performing certified functions. Accordingly, it is vital that key members of staff understand the SM&CR and how it impacts them and their firm.

This eLearning module provides a focused and coherent synopsis of the SM&CR that is perfect for raising awareness of the new rules.

Course Details

  • The structure of the SM&CR
  • Why the SM&CR was introduced
  • Senior Management under the SM&CR
    • Senior Management Functions (SMFs)
    • Governing functions
    • Required functions
    • Statements of responsibilities
    • Prescribed responsibilities
    • Responsibility breaches
    • Non-executive directors
    • Criminal record checks and references
  • SM&CR's certification requirements
    • The logic and example roles
    • Certification functions
    • Need for firm certification
    • Chains of responsibility
    • Fit and proper test
    • Criminal record checks and references
  • SM&CR's conduct rules
    • Two tiers in the FCA code of conduct (COCON)
      • Individual conduct rules
      • Additional rules that only apply to Senior Managers
    • The training requirement
  • The implementation calendar for the SM&CR
    • Implementation date
    • Transitional procedures
  • Course assessment

Key features of our eLearning include:

 

Inhouse Experts
In-House Subject Matter Experts
Experienced, full-time GRC practitioners
Fully Customisable
Fully Customisable
Able to tailor any module to your specific requirements
Pass2
Access All Modules
No restriction to module access
Multi Device
Multi-Device Compatible
Deliverable on desktops, laptops, tablets and smartphones
Trackable Testing
Trackable Testing
Easy to generate reports on progress and results
Flexible Implementation
Flexible Implementation
Delivered through our LMS or deployed on your existing system