Guide to the extension of the SMCR to all regulated firms

By the end of this year, all firms regulated by the FCA must apply new rules on individual accountability. Nearly every person who works in financial services will be subject to the new regime. This guide provides an overview of the rules and highlights what firms should be doing to prepare.

SMCR update: At last, clarity that Head of Legal is not a senior management function

The long-running debate over whether the legal function should be captured by the Senior Managers Regime was resolved in a recent FCA paper. This update picks out the headlines from the latest SMCR consultation.

Senior management accountability: A global perspective

This report on senior management accountability considers the steps being taken by national regulators across the globe to improve organisational culture and governance through enhancing the accountability of senior management.

Extension of the SMCR to insurers

SMCR has applied to insurance and reinsurance firms since 10 December 2018. Our client note summarises the key differences between the previous regime for insurers and the new rules under SMCR.

Operational aspects of the extended SMCR

In December 2017, the FCA proposed how firms would transition from the current Approved Persons Regime to the extended SMCR. This note summarises the operational aspects of moving individuals to the new regime.

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How the FCA supervises unregulated activities

This note explores the FCA’s approach to recognising industry codes of conduct for unregulated activities.

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