This session will run online from 12.30 – 15.30.
The Regulators firmly believe the Senior Managers and Certification Regime (SM&CR) will address the lack of trust in the Financial Services Sector brought about by the 2008-2009 financial crisis and bring about positive cultural change across all sectors of the Financial Services industry.
Solo-regulated firms were brought into the Regime on 31 December 2019 and were given until 31 March 2021 to ensure that they were fully compliant with its requirements. For many, the SM&CR-embedding process has been made more complicated by the need to address the pressing operational and commercial issues arising out of Covid19.
As the dust apparently begins to settle from the pandemic-induced major upheavals of the last two years, firms should now be redoubling their efforts to ensure that they are able to demonstrate adherence to SM&CR requirements and can provide evidence that concepts such as individual accountability and the duty of responsibility are fully embedded in their organisational culture.
Since the Regime first came into being in the banking sector in 2016, feedback from the FCA and PRA has demonstrated that a lot can be learned from others’ mistakes and lack of application to the embedding process. They expect firms to learn from such experiences.
The focus on the behaviour and competence of responsible individuals who hold positions of accountability and could cause client, industry and market detriment has never been more intense. Holding individuals to account is a key component of effective regulation.
This online interactive 3 hour workshop will cover;
- Embedding the Regime – FCA’s expectations and latest updates
- Senior Managers Regime – implications and responsibilities
- Certification Regime – what this really means for those affected
- Fitness and Propriety – the implications for failure
- The Conduct Rules – training and practical application
- Reflection and consideration of your next steps