FCA: FSMA firms must prepare for SM&CR deadline

The Financial Conduct Authority (FCA) is today reminding FSMA authorised firms to start preparing for the onset of the Senior Managers and Certification Regime (SM&CR). After rolling out to banks and insurance firms, the regime will next extend to the 47,000 firms the FCA regulates on 9 December. Aimed at establishing healthy cultures and effective governance in firms by encouraging greater individual accountability and establishing a new standard of personal conduct, senior managers will need to take responsibility not just for the decisions they make, but for how they influences oth...