Senior Managers and Certification Regime: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Expand for Prudential Regulation Authority.) |
imported>Doug Williamson (Expand first sentence.) |
||
| Line 3: | Line 3: | ||
(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: | ||
Revision as of 11:38, 2 May 2018
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).
