Senior Managers and Certification Regime

From ACT Wiki
Jump to: navigation, search

UK financial markets regulation.


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