Senior Management Responsibilities & the SM&CR On-Demand

This training course offers a comprehensive introduction to the responsibilities of senior managers in a convenient ‘on-demand’ format.

It is specifically designed for holders of Senior Management Functions (SMFs) within FCA-authorised firms, who have specific responsibilities under the Senior Managers & Certification Regime (SM&CR). The course considers the impact of the SM&CR, including the Conduct Rules, as well as other regulatory obligations that apply to regulated firms and to senior managers personally. It explores the personal liability associated with being a senior manager as well as the important concept of ‘reasonable steps’.

The course also outlines the obligations set out in the 'Senior Management Arrangements, Systems & Controls' (SYSC) sourcebook of the FCA Handbook. It explains the principal obligations under SYSC and explores how individual senior managers can gain confidence that their firms are meeting the regulatory requirements.

This course is designed for holders of Senior Management Functions (SMFs) in FCA-authorised firms, and those who advise them on their regulatory obligations. It is particularly suitable for those taking on such a role for the first time.

This could include:

• Chief Executives
• Directors
• Non-Executive Directors
• Senior Managers
• Compliance Officers

After attending this course, participants will:

• Understand the principal responsibilities of Senior Management Function (SMF) holders under the regulatory regime
• Understand the impact of the SM&CR
• Know the Conduct Rules, and have considered how they apply to their role
• Know the main purposes of the SYSC sourcebook and where it fits in the FCA Handbook
• Understand the potential implications of a breach of regulatory obligations

• Regulatory Framework
• SM&CR and the Conduct Rules
  • Enforcement Action
  • Reasonable Steps
• Overview of SYSC:
  • Corporate Governance
  • Compliance
  • Risk Management
  • Outsourcing
  • Conflicts of Interest

Our On-Demand courses consist of a suite of bite-size video tutorials and a short assessment, allowing you to consume the training over a course of weeks or months. In addition to the recorded tutorials, you will have access to our “ask the tutor" facility for 3 months.