Opinion: Beyond compliance

Nindy Mellett

This month marked a big expansion in the scope of the Senior Managers and Certification Regime (SM&CR) for broking firms and the application of conduct rules to pretty much everyone who works for them. 

The regime requires firms to submit annual reports of disciplinary action taken as a result of breaches of the five conduct rules. But figures we obtained under a Freedom of Information (FOI) request to the Financial Conduct Authority (FCA) suggest brokers were already under reporting breaches

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