Senior Managers and Certification Regime: Difference between revisions

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(SM&CR).
(SM&CR).


The SM&CR regulates individuals working in financial services.  
The Senior Managers and Certification Regime regulates individuals working in financial services.  
 


The aim of the SM&CR is to reduce harm to consumers and strengthen market integrity by making individuals more accountable for their conduct and competence by:
The aim of the SM&CR is to reduce harm to consumers and strengthen market integrity by making individuals more accountable for their conduct and competence by:
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*Encouraging a culture of staff at all levels taking personal responsibility for their actions; and
*Encouraging a culture of staff at all levels taking personal responsibility for their actions; and
*Making sure firms and staff clearly understand and can demonstrate where responsibility lies.
*Making sure firms and staff clearly understand and can demonstrate where responsibility lies.
The SM&CR applies to firms regulated by the Financial Conduct Authority (FCA) and firms regulated both by the FCA and the Prudential Regulation Authority (PRA).




==See also==
==See also==
*[[Financial Conduct Authority]]
*[[Certified Person]]
*[[FSMA]]
*[[Financial Conduct Authority]]  (FCA)
*[[Financial Services and Markets Act 2000]]  UK
*[[Financial Services and Markets Act 2023]]  UK
*[[Prudential Regulation Authority]]
*[[Regime]]


[[Category:Self_management_and_accountability]]
[[Category:Financial_management]]
[[Category:Financial_management]]
[[Category:Ethics_and_corporate_governance]]

Latest revision as of 12:26, 19 August 2024

UK financial markets regulation.

(SM&CR).

The Senior Managers and Certification Regime regulates individuals working in financial services.


The aim of the SM&CR is to reduce harm to consumers and strengthen market integrity by making individuals more accountable for their conduct and competence by:

  • Encouraging a culture of staff at all levels taking personal responsibility for their actions; and
  • Making sure firms and staff clearly understand and can demonstrate where responsibility lies.


The SM&CR applies to firms regulated by the Financial Conduct Authority (FCA) and firms regulated both by the FCA and the Prudential Regulation Authority (PRA).


See also