Senior Managers and Certification Regime Extension

Consultation paper published

DOUGLAS E. CHERRY, TIM DOLAN, TAMASIN LITTLE and KAREN BUTLER, REED SMITH

The UK Financial Conduct Authority (FCA) has published its long-awaited consultation paper on extending the senior managers and certification regime (SMCRE) to all authorised firms. A separate consultation paper has been published for insurers. The SMCRE will consist of a “core regime”, an “enhanced regime” and a “limited scope regime” to reflect the size, scale and complexity of the firms that will be subject to this regime. The consultation is open until 3...

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