FCA warns brokers to be ready for SM&CR

regulation-and-compliance

The Financial Conduct Authority (FCA) has reminded brokers that they must prepare sooner rather than later for the implementation of the Senior Managers & Certification Regime (SM&CR).

The regime has already been rolled out to insurance companies and brokers authorised by the Financial Services and Markets Act (FSMA) must be ready to abide by the rules by 9 December 2019.

Under the regime, all senior managers must have a Statement of Responsibility – which should be clear enough for everyone

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