Compliance Insights Articles

The FCA’s proposed extension to the Senior Managers and Certification Regime aims to bring all FCA regulated firms under a single regime, in effect uniting the Approved Persons Regime and SMCR. The current rules apply to banks and insurers and the FCA’s proposal will extend the regime to all FCA solo-regulated firms. As part of the regime, the FCA are set to require firms to assess whether Senior Managers, Executive Directors and Individuals are fit and proper to do their job