Senior Managers and Certification Regime: Difference between revisions
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(SM&CR). | (SM&CR). | ||
The | 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]] | ||
*[[ | *[[Financial Conduct Authority]] (FCA) | ||
*[[Financial Services and Markets Act 2000]] UK | |||
*[[Financial Services and Markets Act 2023]] UK | |||
*[[Prudential Regulation Authority]] | |||
*[[Regime]] | |||
[[Category:Financial_management]] | [[Category:Financial_management]] | ||
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).
