FCA consults on extending the senior managers regime to all regulated firms
The FCA has published its long-awaited proposals for replacing the Approved Persons Regime with the Senior Managers and Certification Regime (“SMCR”).
Banks and PRA-designated investment firms became subject to the SMCR in March 2016. From next year, almost every authorised firm will be subject to the new regime which the FCA is proposing to tailor to different types and size of firm.Click here to access the note to find out more about the regime.
This note is relevant to all firms regulated by the FCA. The FCA has also proposed some additions to the regime for existing SMCR firms.
If you have any questions, please get in touch with any of our experts listed in the note or your usual Linklaters contact.
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