Senior Managers and Certification Regime: Difference between revisions
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The Senior Managers and Certification Regime 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: | ||
Revision as of 21:42, 24 July 2021
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).
