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FCA unveils extension of the SM&CR
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Changes made to the regime will be implemented on 9 December 2019, the same date that brokers will start to have to comply with the rules by.
The Financial Conduct Authority has published an update to its Senior Managers and Certification Regime (SM&CR).
Changes made as result of a consultation include: excluding the head of legal from the requirement to be approved as a Senior Manager; altering the intermediary revenue criteria for the extended regime and the clarification of the requirements and scope of the Certification Regime.
Affected
Firms, including authorised claims management companies (CMCs), impacted by this update will
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