SM&CR could place extra cost on advice firms

New regime rolled out today

clock • 3 min read

Firms may need to bear extra costs in onboarding advisers due to Senior Managers & Certification Regime

The Financial Conduct Authority's (FCA) Senior Managers and Certification Regime (SM&CR) raises standards of individual's conduct and emphasises the accountability of senior management. It has already been rolled out to other UK finance sectors. LEBC director of public policy Kay Ingram said the regime will place an extra burden on firms to carry out due diligence when recruiting advisers, however, the changes will not impact individual advisers as much as it will management, who are responsible for meeting the FCA's regulatory requirements. "A big difference is advisers will no long...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Adviser / Broking

The COVER Review: Mortgage advice, CI claims and beneficiary nomination

The COVER Review: Mortgage advice, CI claims and beneficiary nomination

Week commencing 2 November 2026

COVER
clock 06 November 2026 • 1 min read
COVER Women in Protection and Health Awards 2027: Five days to nominate

COVER Women in Protection and Health Awards 2027: Five days to nominate

Deadline 11 November, 2026

COVER
clock 04 November 2026 • 1 min read
Quilter Financial Planning joins PDG

Quilter Financial Planning joins PDG

Launches financial education campaign

Cameron Roberts
clock 02 November 2026 • 2 min read