Key Details

Duration:

Delivery method: In-house

Overview

Board members and holders of Senior Management Functions (SMFs) within authorised firms have specific responsibilities under the regulatory regime. These responsibilities have been heightened by the implementation of the Senior Managers & Certification Regime (SM&CR), which was extended to all FCA-authorised firms from December 2019. This concise briefing considers the...

Board members and holders of Senior Management Functions (SMFs) within authorised firms have specific responsibilities under the regulatory regime. These responsibilities have been heightened by the implementation of the Senior Managers & Certification Regime (SM&CR), which was extended to all FCA-authorised firms from December 2019.

This concise briefing considers the main elements of the SM&CR and its impact on firms and individual employees. It also covers the new conduct rules and explores the important concept of ‘reasonable steps’.

Who is this for?

This course is designed for board members, and holders of Senior Management in authorised firms, as well as those who advise them on their regulatory obligations.

  • Background to the new regime
  • Overview of the SM&CR
  • The five individual conduct rules
  • The four senior manager conduct rules
  • Guidance and scenarios for senior managers

At the conclusion of each course participants will:

  • Know the reasons for the introduction of the SM&CR
  • Understand the main elements of the new regime
  • Understand the significance of the increased focus on individual accountability
  • Know which Conduct Rules apply to them
  • Have considered how the new rules apply in a range of practical scenarios