We are pleased to announce the launch our Senior Managers and Certification Regime (SMCR) toolkit. This offers a selection of ready-to-use packages for firms to use to help themselves prepare for the implementation of SMCR.
We are also able to offer a flexible range of services, through a seamless combination of the the expertise of our financial services and legal specialists in our legal regulatory consulting teams, to help you comply with the regime and run your implementation project.
What is SMCR?
SMCR is a new regime which was developed following the 2008 financial crisis.
From December 2019, the regime will be extended to cover all FCA solo-regulated financial firms.
The regime is intended to clarify the roles and responsibilities of senior personnel and key staff to improve individual accountability.
What's in the toolkit?
The toolkit provides a cohesive, value-driven approach that will get you where you need to be and help you navigate the regime.
It contains what you need to implement the regime and run your implementation project, including:
- a roadmap setting out the key requirements and the key actions that firms need to take;
- a project plan outlining practical steps to implement your SMCR project;
- guidance notes on how to identify senior managers and allocate responsibilities;
- responsibilities map and statement of responsibilities to ensure you are compliant with your documentary obligations;
- template documents, including a certification certificate, a fitness and proprietary policy and a handover policy;
- training slides that can be used in internal presentations to train staff on the regime; and
- our add-on services give you additional support from us during the implementation process.
Let us know if you would like further information on the toolkit.
Our SMCR experience
Our team has advised a wide range of authorised firms on regulatory systems and controls and governance matters, including extensive advice on the extension of the SMCR.
We can provide practical guidance on SMCR implementation for your firm, and insight into market-standard practices.
We provide flexible support to reflect your firm’s business needs, whether you need us to:
- run your entire implementation project, using a mix of our legal and consulting offering;
- advise you on the key requirements for you to implement; or
- help you implement your own project with our SMCR toolkit.
For more information on how we can help, please click here.
Authored by Michael Thomas, Caroline Walters and Anahita Patwardhan